Pakistani rupee registers all-time low against the US dollar

Pressure on the rupee has increased due to Pakistan's current account deficit.

Pakistani rupee neared an all-time low after another fall against the US dollar. As per the State Bank of Pakistan (SBP), the currency closed at 168.02 against the dollar in the inter-bank market, registering a decline of Rs 0.36 or 0.21 per cent. Dropping below the 168 level, the Pakistani rupee inched near all-time low recorded against the US dollar on August 26, 2020, reported Business Recorder. As per Arif Habib Limited, the Pakistani rupee has lost 6.2 per cent since June 2021 and 9.4 per cent against the USD since its recent high recorded on May 14, 2021.