The rupee on Tuesday made a record for the lowest-ever trade value in the inter-bank market against the US dollar, taking it to within a whisker of the psychological number of Rs300. Meanwhile, a single US dollar was traded for over Rs310 in the open market.
According to data shared by the State Bank of Pakistan (SBP) on Tuesday evening, the rupee closed the day in the inter-bank market lower by Rs1.88 to where it had started.
At the beginning of the trading day, the rupee was trading for Rs297.13. However, during the course of the day, it fell to Rs297.815. Lower by about Rs0.702.
But by the end of the day, the rupee had slipped 0.63%, weaker by Rs1.8732 (1.88) to a historically low level of Rs299.01 for a US dollar.
Interbank closing #ExchangeRate for today https://t.co/1cJoc3lhhc#SBPExchangeRate pic.twitter.com/ZcZsX3y3Ba
— SBP (@StateBank_Pak) August 22, 2023
In the open market, meanwhile, a single US dollar was being traded for as much as Rs312, with reports suggesting that it could go as high as Rs315 today or early tomorrow.
In the open market, the rupee has been trading above Rs300 for nearly a week now.