The Pakistani rupee fell to an all-time low against the dollar for the second day in a row on Tuesday, closing at Rs222 in the interbank market.
According to the Forex Association of Pakistan (FAP), the greenback was up Rs8.8, or 4 per cent, against the previous day’s close of Rs215.20 to reach Rs224 around 2:30 pm, reports Dawn.
However, it closed at Rs221.99, appreciating 3.1pc, according to the State Bank of Pakistan (SBP).
Mettis Global Director Saad Bin Naseer said the rupee was seeing a decline due to “panic buying [of the dollar] by banks in the interbank market”.