ISLAMABAD, Aug. 25 (Xinhua) -- The Pakistani rupee's fall continues to set a new record low against the U.S. dollar as the greenback was traded at 301 rupees in the interbank market on Friday, according to the State Bank of Pakistan (SBP).
The U.S. dollar closed at the then-record low of 300.22 rupees on Thursday. On the last session of the week, the local currency depreciated by 0.78 rupees, or 0.26 percent, against the U.S. dollar, official figures showed.
Deputy Governor of the SBP Inayat Hussain told the senate's Standing Committee on Finance Wednesday that an increasing demand for imports along with the people's attempt to buy as many dollars as possible is resulting in the devaluation of the greenback.
The dollar's demand started to rise after the SBP lifted restrictions on imports in accordance with the International Monetary Fund program, he added. ■