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Pakistani rupee hits all-time low figures against USD Pakistan Rupee
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Pakistani rupee hits all-time low figures against USD

India Blooms News Service | @indiablooms | 18 Oct 2021, 05:32 pm

Islamabad:  The US dollar continued to move up against the Pakistani rupee and reached a historic high during intra-day trading in the inter-bank market on Monday.

The Pakistani rupee continued to weaken, shedding an additional 82 paisas against the US dollar, which was being traded at Rs 173 in the during intra-day trading in the inter-bank market, Geo News reported.

Prime Minister Imran Khan was quoted as saying by Geo News while speaking at an event last week that the pressure on the Pakistani rupee is temporary and will be over soon.

Economists told the news channel that the main reason for the rise in the value of the dollar and the depreciation of the rupee is Pakistan's current account deficit and IMF's demand for further devaluation of the rupee.