The domestic currency saw a decline of 1.87 against the US dollar, with an exchange rate of 299 during intraday trading.
KARACHI: (UrduPoint/Pakistan Point News-August 22nd, 2023) The national Currency experienced a significant drop on Tuesday, losing 0.6% of its value against the US Dollar in the interbank market.
This depreciation was triggered by the relaxation of import restrictions, leading to increased demand for the dollar.
During intraday trading, the domestic currency saw a decline of 1.87 against the US dollar, with an exchange rate of 299, as reported by the Exchange Companies Association of Pakistan (ECAP).
This marks a new all-time low, surpassing the previous record of 298.93 set on May 11.
In comparison to Friday's closing rate of Rs295.78, the rupee had concluded at 297.13 against the dollar on Monday.
