The Pakistani rupee slumped to a new historic low against US dollar in the interbank market on Thursday as the greenback gained Rs1.61 in intraday trading to reach an all-time high of Rs200.
According to the Forex Association of Pakistan (FAP), the US gained Rs1.61 in the interbank market from the previous day’s close of Rs198.39 and climbed to Rs200 around 11:30am.
The forex dealers said that US dollar in the open market is also trading at over Rs200.
When the PM Shehbaz Sharif-led coalition government took over on April 11, the dollar was valued at Rs182.3. Since then, the rupee has lost Rs18 of its value.