The rupee continued to depreciate steeply in the interbank market on Friday, trading at Rs266.6 per dollar at 10:32am, down Rs11.17 or 4.58 per cent from yesterday’s close, according to data shared by the Exchange Companies Association of Pakistan (Ecap).
The local currency’s value declined Rs24.54 to a record low of Rs255.43 in the interbank yesterday, the largest single-day depreciation in both absolute and percentage terms since the new exchange rate system was introduced in 1999.
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