The Nation: Rupee crashes to record low against dollar

The Nation: Rupee crashes to record low against dollar
In this file photo, Money dealers count Pakistani rupees, right, and US dollars at a currency exchange in Islamabad on March 12, 2014. (AFP)
Updated 21 March 2018

The Nation: Rupee crashes to record low against dollar

The Nation: Rupee crashes to record low against dollar

March 21: The Nation report by Salman Abduhu states that Pakistani rupee on Tuesday slumped to an all-time low of 115.5 against the American dollar during intra-day trading in the interbank market, closing at Rs 114 as compared to Monday’s closing rate of Rs 110.5, in what appeared to be a currency devaluation by the central bank, the second such intervention in less than four months. However, more pressure was seen in the open market where the local currency crashed by almost five percent to close at Rs 116.5 versus dollar on the back of deterioration of Pakistan’s external account.
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