Rupee holds steady at 176.98 against US dollar

PKR hits new all-time low in interbank intraday trade

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Karachi: The Pakistani Rupee (PKR) continues to be under severe pressure as the currency hit a record low in intraday trading.

The local currency depreciated by 20 paisa against the U.S. dollar on Wednesday, mainly because the widening trade deficit expanded the demand for U.S. dollars.

A day ago, PKR also continued to be under pressure and depreciated against the U.S. dollar by 31 paisa during Tuesday’s interbank trading session. The currency closed at PKR 176.79.

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