Karachi (Web Desk): The Pakistani rupee on Friday witnessed a freefall for a second consecutive day, plunging by a fresh 4.78% (or Rs12.87) to a new all-time low of Rs262.30 against the US dollar in the interbank market.
On Thursday, the local currency recorded the single largest slump in a day of 9.61% (or Rs24.54) to Rs255.43 against the greenback. Accordingly, the rupee has recorded a cumulative drop of almost 14% (or Rs37.41) in just two days.
The PKR was changing hands at Rs265 per dollar in the open market at 10:30am, according to data shared by the Exchange Companies Association of Pakistan (Ecap).