ISLAMABAD: The Pakistani currency touched a new all-time low of Rs170.96 against the US dollar in the inter-bank market on Wednesday as demand for the foreign currency stood higher compared to its supply in the wake of rising commodity prices in the international market, a historic high trade deficit, and worsening financial situation in Afghanistan.

The exchange rate of Pakistan rupee against US dollar depreciated by 16 paisas in the interbank trading on Wednesday to close at Rs170.96 against the previous day's closing of Rs170.80, according to State Bank of Pakistan (SBP).

According to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs 171 and Rs 172 respectively.

Similarly, the price of euro was depreciated by 34 paisas and closed at Rs197.68 against the last day’s trading of Rs198.02, the State Bank of Pakistan reported.

The Japanese Yen remained unchanged to close at Rs 1.53, whereas an increase of 52 paisas was witnessed in the exchange rate of British Pound, which was traded at Rs232.45 as compared to its last closing of Rs231.93.

The exchange rates of Emirates Dirham and Saudi Riyal increased by 04 paisa each to close at Rs 46.54 and Rs 45.58 respectively.