KARACHI: The US dollar has broken its all-time high record against the Pakistani rupee in the interbank market on Wednesday, ARY News reported.
The Pakistani rupee continues to depreciate against the greenback.
The value of the US dollar after surge of 0.31 paisa today touched the all-time high against the Pakistani rupee and being traded at Rs.169.25, earlier the all-time highest was Rs168.95.
The value of the US dollar soared by Rs16.67 during the last four months.
Yesterday, the trading of the greenback in the inter-bank market closed at Rs168.94.
Currency dealers, experts and analysts have many reasons for the steep fall in the local currency value against the US dollar, but they said there was no intervention from the State Bank of Pakistan (SBP) to stop this devaluation to bring stability.
The Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April 2021.
The local unit rose by 6.2 percent or Rs10.51 against the US dollar in the currency market during the fiscal year 2020-21 that ended on June 30.