Daily Times

The Pakistani rupee fell further against the US dollar on Thursday, reaching an all-time low of 226 in the interbank market during intraday trade. The rupee finished at 226.81, down Rs1.89 or 0.83pc, according to data supplied by the State Bank of Pakistan (SBP), after falling as low as 228 during intraday trade. Yesterday, the dollar reached an all-time high versus the Pakistani rupee, and it is now trading at Rs225 in the interbank market. Political unrest wreaked havoc on the currency market for the second day in a row. He did, however, claim that the recent dip in the rupee’s value versus the dollar was caused by the country’s political unrest. During previous fiscal year’s trade imbalance was $48b and the current account deficit was $17b, both of which the government could not afford. During a news briefing in Islamabad, Miftah Ismail noted that the dollar has risen against other foreign currencies as well.