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Pak rupee plummets to all-time low against US dollar

The global strengthening of greenback weakened local currency

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Pak rupee plummets to all-time low against US dollar
GNN Media: Representational Photo

Karachi: The local currency was recorded historic low against the US dollar in the inter-bank market on Wednesday, as it closed above 206 for the first time.

The rupee settled at Rs206.46, a depreciation of Rs1.3 or 0.63% against the greenback, as the currency market anticipated a further spike in inflation, while the dollar added strength internationally.

On Tuesday, the local unit had settled at the then-record low of Rs205.16.

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