ISLAMABAD: The Pakistani rupee closed at a historic low of Rs170.48 against the US dollar on Wednesday, according to data released by the State Bank of Pakistan (SBP).

The exchange rate of Pakistani rupee weakened by 52 paisas against US dollar in the interbank trading and closed at Rs170.48 as compared to the previous day's closing of Rs169.96.

In the open market, the US dollar was up by 50 paisa against the Pakistani rupee and trading at around Rs172.30.

The rupee, which has been termed the worst-performing currency in Asia, seems to have opened the field for the bullish US dollar to move forward unchecked and erode the remaining value of the local currency.

According to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs 171.4 and Rs 172.4 respectively.

Similarly, the price of euro was appreciated by 19 paisas and closed at Rs198.84 against the last day’s trading of Rs198.65, the State Bank of Pakistan reported.

The Japanese Yen remained unchanged to close at Rs 1.53, whereas a decrease of Rs1.91 was witnessed in the exchange rate of British Pound, which was traded at Rs 230.49 as compared to its last closing of Rs 232.40.

The exchange rates of Emirates Dirham and Saudi Riyal increased by 14 paisas each to close at Rs 46.41 and Rs 45.44 respectively.