Rupee drops to all-time low as dollar crosses Rs190 mark during intraday trading

KARACHI: The downward trajectory of the rupee continued as the dollar gained Rs1.44 against the local currency. Overall, in two successive sessions, the rupee lost Rs1.84 in value.

In the interbank market, during the intraday trading, the rupee reached the all-time high value of Rs190.10. The increasing demand for the greenback and the lifting off of the subsidies on electricity and fuel are labelled as the primary factors in the depreciation of the rupee.

Meanwhile, the gold prices also hiked to an all-time high after an increment of Rs1,400. The per tola rate stood at Rs134,400, and 10 grams reached Rs115,226.

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