Pakistan Rupee hits all time low

Islamabad, May 11: The Pakistan Rupee slumped to an all time low against the US dollar on Tuesday in the international market, ARY news reported.

It further said that the value of the greenback surged by 82 paisa in early trade and is currently trading at Rs 188.35 in the interbank market hitting an all time low.

The report also said that the forex dealers have further shared that the greenback is being sold above Rs 189 in the open market.

The US dollar closed at Rs 187.53 in the interbank, the ARY news report also said. The surging Dollar shattered the confidence of the Rupee-based economy and its stakeholders.

On the other hand, the State Bank of Pakistan's foreign exchange reserves fell by $328 million to $ 10.558 billon during the week that ended on April 23.