Rupee slumps to record low against US dollar

The Pakistani rupee continued to register losses against the US dollar during trading, depreciating 0.68% on Tuesday.

At around 12:35pm, the rupee was hovering at 299.16, a decrease of Rs2.03 in the inter-bank market.

The is the lowest level ever during intra day, breaching the previous low of 298.93 achieved on 11th May 2023.

In Open market rupee has also slumped to record low of Rs312 to dollar, a drop of Rs 6 since morning.

On Monday, the rupee remained under pressure against the US dollar, as it settled at 297.13 in the inter-bank.