Rupee Slides to Historic Low of Rs230 for a US Dollar in Interbank Trading

As the political situation in the nation worsens, the Pakistani rupee’s Monday intraday trade in the interbank market touched an all-time low versus the US dollar.

Data from the State Bank of Pakistan shows that during intraday trade, the rupee fell to 230 from a rate of 228.37. 

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Fears over Pakistan’s faltering economy have increased as the country’s currency dropped by about 8% versus the US dollar in the most recent trading week, its foreign exchange reserves are below $10 billion, and inflation is at its worst level in more than a decade.

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