Rupee touches historic low against US dollar interbank market

Lahore: The Pakistani rupee on Wednesday faced a new record low against the US dollar, with a loss of Rs5.16 in interbank trading.

The rupee touched the historic low after arrest of former Prime Minister Imran Khan, which led to clashes between his supporters and the police.

As a result, the country's interior ministry suspended mobile broadband services.

The rupee is being traded at Rs290 per dollar after a decrease of Rs5.16 from the previous day's closing of Rs284.84 in the interbank market. Meanwhile, in the open market, the PKR fell by Rs5, trading at Rs295 compared to the previous day's closing of Rs290.

Interbank closing #ExchangeRate for todayhttps://t.co/H7IwyLoFvE pic.twitter.com/6QNYI1tDGx

— SBP (@StateBank_Pak) May 10, 2023

Former Prime Minister and Chairman of Pakistan Tehreek-e-Insaf (PTI), Imran Khan, was arrested on Tuesday by the National Accountability Bureau (NAB) in connection to the Al-Qadir Trust case. The arrest was made by Rangers personnel, who were acting under a NAB warrant, at the Islamabad High Court where Khan was seeking bail in multiple cases against him.

The Islamabad High Court declared Imran Khan’s arrest ‘legal’ and issued notices to the Interior Secretary and IG.