Pakistani rupee plummets to historic low against dollar

KARACHI: The Pakistani rupee weakened by Rs1.88 against the US dollar and closed at Rs299.01 in the interbank market on Tuesday, the State Bank of Pakistan said.

The Pakistani currency depreciated by -0.63 per cent against the US dollar.

This recent decline surpassed the previous record low of Rs298.93, which had been set on May 11.

Interbank closing #ExchangeRate for today https://t.co/1cJoc3lhhc#SBPExchangeRate pic.twitter.com/ZcZsX3y3Ba

— SBP (@StateBank_Pak) August 22, 2023

Read more: Gold price sees massive increase for second consecutive day

Separately, The price of gold in Pakistan witnessed a massive increase of Rs4,600 per tola on Tuesday according to Pakistan Sarafa Gems and Jewellers’ Association (APSGJA).

After the increase, the price of the precious metal per tola has reached Rs234,500.