Pakistani Rupee hit another new low against the US dollar in interbank market

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Pakistani Rupee hit another new low against the US dollar in interbank market

The Pakistani Rupee crashed to a new all-time low against the US Dollar today. The Rupee hit 174 against the US dollar. Earlier the Rupee had depreciated by 69 paisas against the dollar and closed at 173.47.

The local currency’s prior record low against the US Dollar (USD) was 172.78.

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Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin, has returned to Washington, D.C., to resume talks with the International Monetary Fund, according to the spokesperson.

Jihad Azour, director of the IMF’s Middle East and Central Asia Department, said negotiations between the fund and Pakistan had taken a “very good step.”

Since the start of the fiscal year 2021-2022, the PKR has slid by 15.93 rupees, with the currency closing at 157.54 rupees on June 30, 2021.