The US dollar increased by Rs. 6.50 against the rupee in the interbank market of Pakistan

The Pakistani rupee struck a new all-time low of Rs 269.10 against the dollar on Monday in the interbank market, indicating that the currency’s sharp decline is still ongoing.

Since Thursday, when the Exchange Companies Association of Pakistan (ECAP) lifted an unofficial exchange rate cap, the dollar has increased by Rs 36.91 in the interbank market.

Forex dealers claim that the rupee’s losses haven’t stopped despite a further loss of Rs6.50 against the US dollar in the interbank market.

The rate of the dollar has reached an all-time high of Rs 269.10 in the interbank market.

According to the foreign exchange traders, banks are selling US dollars to importers for Rs270.80, although the open market price is between Rs267 and 270.