The Pakistani rupee (PKR) has continued a speedy crash against the US dollar with another big fall as the greenback was traded at a record high price of 276.58 PKR in the interbank market.
State Bank of Pakistan (SBP) Governor Jameel Ahmad informed the National Assembly’s Standing Committee on Finance and Revenue on Tuesday that investigations had been launched regarding the role of banks in exchange rate manipulation.
"I reiterate political uncertainty is weakening market sentiment and leading to more rupee depreciation," Ali added.
"We are not against the State Bank of Pakistan's autonomy, but now, there will be no oversight of the fiscal and monetary policy," The News International quoted Ismail as saying.
