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Pakistani rupee reaches new low against dollar

On Wednesday, the Pakistani rupee fell to an all-time low of Rs202 versus the US dollar in inter-bank trading.

Meanwhile, market confidence was further harmed by concern about the outcome of talks with the International Monetary Fund (IMF).

The acting governor, Dr Murtaza Syed, told a virtual post-monetary policy analyst briefing that negotiations with the IMF on the seventh review are continuing and will take some time because they are also working on next year’s budgetary measures.

The dollar was worth Rs182.3 when the coalition government led by Prime Minister Shehbaz Sharif assumed office on April 11. The rupee has lost Rs19.41 in value since then.

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