Islamabad : The Pakistani rupee dropped to a new historic low in the interbank market amid increasing political pressure on the government to announce an early election.
The local currency was traded at rupees (PKR) 200 against the greenback during intraday trade on Thursday, Geo News reported. On Thursday, the Pakistani rupee closed at PKR 198.39. But currency surpassed the startling milestone of 200 within the first few hours of trading today.
This comes as there is increasing uncertainty over the revival of the International Monetary Fund (IMF) loan programme.
Against this backdrop, Pakistan Prime Minister Shehbaz Sharif convened an important meeting on the economic situation to discuss issues related to preventing the currency from devaluing.