PKR hits historic low against US dollar in interbank market

The Pakistani rupee continued its downward spiral unabated for the 14th consecutive session on Wednesday and hit an all-time low of Rs240 against the US dollar in the interbank market amid floods and a shortage of greenback in the country.
The rupee has been one of the worst performing currencies in the emerging markets and has fallen by nearly 9% so far this month owing to wide-ranging factors.
In the interbank market during intraday trade, the rupee plunged to 240 after losing 1.09.