Pakistan rupee at all-time low, sinks below 100-mark vs USD

February 11, 2013 21:25

The Pakistani rupee today plunged to its all-time low of 100.1 against the US dollar on worries of dwindling forex reserve after reports of the country repaying USD 146 million to the International Monetary Fund.

The Pakistani rupee fell to the 100 rupee mark after it opened at 99.30 in the open market. It has now lost 39 per cent of its value against the US currency since March 2008. "This is the first time the rupee has weakened to beyond the 100 rupee mark and it happened today in the open market where the dollar traded around 100.1 rupees," Intikhab Ahmed, analyst, Capital Investments, said.

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