The rupee touched a new all-time low of Rs174.43 against the US dollar in the inter-bank market on Monday in the wake of mounting pressure of import payments as well as looming uncertainty regarding a delay in the International Monetary Fund’s decision regarding resumption of $6 billion Extended Fund Facility (EFF). The rupee has maintained the downtrend for the past five months. It has lost 14.55 per cent or Rs22.16 to date compared to the 22-month high of Rs152.27 recorded in May. With a fresh decline of 0.25pc, the rupee has depreciated 10.72pc or Rs16.89 since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed. Article continues after this advertisement

Source: Pakistan Today October 26, 2021 03:35 UTC