In the midst of continued political unrest and the government’s failure to save the important International Monetary Fund (IMF) project, the Pakistani rupee sets a new record low on Thursday.
The local currency fell to a record low of 291.93 against the US dollar in the early hours of trading due to the deteriorating political climate. The dollar increases by Rs1.71 (0.6%) during intraday trading.
The Pakistani rupee reached a new record low against the US dollar on Wednesday, depreciating further from its previous record low of 290.22.
The arrest of Pakistani prime minister Imran Khan sparked violent riots in South Asia, which further soured the mood on the stock market.
On an international level, the high-flying dollar faced blows for the second day.
