PAKISTAN ECONOMY CURRENCY

Pakistani rupee slumps 9.6% to historic low against US dollar at interbank foreign exchange market

epa10433050 A currency exchange dealer sorts US dollars and Pakistani rupees at a money exchange company in Peshawar, Pakistan, 27 January 2023. The Pakistani rupee dipped by about 10 percent against the United States dollar in the inter-bank market on Thursday, the central bank data showed on 27 January. The historic one-day plunge came two days after foreign exchange companies removed an unofficial cap on the exchange rate to win International Monetary Fund trust to resume lending. The exchange rate was opened at 230.89 rupees to the dollar and ended at 255.43, down by 9.61 percent at closing on the day at interbank foreign exchange market, the central bank data said. EPA/BILAWAL ARBAB

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