Karachi (Staff Report/Agencies): Pakistani rupee hit a record low by plunging over Rs18.89 against the US dollar in interbank trade during the intra-day trading.
The rupee was trading at 285 against the dollar.
Meanwhile, in the open market, the local unit was trading at Rs292 to a dollar.
On Wednesday, the local currency witnessed depreciation against the dollar, settling at 266.11.
According to market experts, the main concern in the market was the delay in the agreement with IMF, however, the lender's condition to peg the currency rate with that of the grey market — also referred to as the Peshawar market — had triggered uncertainty.