Battered, bruised, broken – rupee hits all-time low against dollar

KARACHI: With economy in turmoil, no IMF bailout programme in sight, the rupee continued to take hits against the US dollar as it recorded its all-time low value at Rs210 in the interbank market on Monday.

The local currency had closed at Rs207.75 on Friday. With dollar trading at Rs210.3 on Monday morning, rupee recorded a loss of Rs2.55 against the dollar.

The country’s local banks have reportedly run out of dollars. If the deal with the IMF is not negotiated successfully, Pakistan will default on all its loans.

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