Rupee further depreciates to make new record low

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KARACHI: The rupee further depreciated by 12 paisas against dollar on Wednesday making a new record low in interbank foreign exchange market.

 

The rupee ended Rs133.76 to the dollar from previous day’s close of Rs133.64 in interbank foreign exchange market.

Currency dealers said that the announcement of the government to approach IMF for a new bailout package had negatively impacted the local unit.

The interbank foreign exchange market was initiated in the range of Rs133.50 and Rs134.00. The market recorded day high of Rs133.90 and low of Rs133.75 and closed at Rs133.76.

In the cash ready market the rupee gained the value as buying and selling of dollar was recorded at Rs133.50/Rs135.50 from previous day’s close of Rs135.20/Rs136.50.

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