The local currency depreciated by 20 paisa

KARACHI (Dunya News) - The Pakistani Rupee (PKR) continued to remain under severe pressure as the currency hit a new all-time low during intraday trade.

The local currency depreciated by 20 paisa against the US dollar on Wednesday mainly due to the widening trade deficit which has amplified the demand for the American currency.

A day earlier, PKR also remained under pressure and depreciated by 31 paisa against the US dollar in Tuesday’s interbank session. The currency closed the trade at PKR 176.79.