Depreciation of PKR against USD reaches new record

Karachi: The Pakistani rupee Thursday set a new record low against the US dollar.

According to currency dealers, the dollar crossed Rs305 for the first time in history after the dollar increased by another Rs0.30 in the inter-bank exchange. The foreign currency is trading at Rs305.75 in Interbank.

It is pertinent to note that an increase of Rs1.40 was recorded in the price of dollar in interbank yesterday as well.

On the other hand, according to currency dealers, the US dollar reached a historical level of Rs322 in the open market.

Notably, in just two weeks of the caretaker government, the dollar has become more expensive by Rs16 in the interbank market and by more than Rs20 in open market.