On Thursday the Rupee took a massive hammering against the US Dollar in the interbank and open markets and falls historically low.
According to the Forex Association of Pakistan (FAP), the rupee losses its worth as the local currency dropped to Rs254.75 against the dollar in the interbank market.
The Greenback surged by Rs 23.86 against the local currency in the interbank market and traded at Rs 254.75. The Dollar is being traded between 242 to 245 rupees in the open market.
It is to be mentioned here that the Pakistani rupee depreciated against the US dollar in the open markets as the Exchange Companies Association of Pakistan (Ecap) announces to the removal of an unofficial cap on the exchange rate.
Today Exchange Companies Association of Pakistan (ECAP) data showed that the in the open market during the Dollar is being sold at 255 after depreciating by Rs12.
