The Pakistani rupee reeled to an all-time low against the US dollar on Wednesday, breaching the critical threshold of 190 against the greenback in the interbank market.
With a fresh decline of Rs1.36 (or 0.72%), the local currency closed at Rs190.02 against the greenback in the interbank market, surpassing Tuesday’s record low of Rs188.66.
Recent decline was attributed to uncertainty with respect to the International Monetary Fund (IMF) programme, coupled with an absence of direction from the government on major economic policies and a roadmap.
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