The rupee remained on a downward slide against the dollar in the interbank foreign exchange market on Wednesday.

The greenback gained Rs1.24 to reach an all-time high of Rs304.44 at the closing of the interbank market, as against the closing of Rs303.2 the previous day.

In the open market, the US dollar climbed to Rs325 as the difference between interbank and open market rates widened.

The rupee remained under pressure owing to dwindling foreign exchange reserves as the State Bank of Pakistan’s reserves declined by $125 million to hit $7.9 billion during the week ended on August 18, compared with $8.05 billion the previous week.

In the open market, the foreign currency continued its flight as it was available at Rs319. The difference between the interbank and open market has further widened with around Rs15 difference between the two markets.

Earlier, lacklustre activity was recorded at the Pakistan Stock Exchange where the benchmark KSE-100 Index shed 64.16 points, or 0.14%, to reach 46,706.25 levels during the midday trading.

Similarly, the KSE-30 Index shed 22.63 points, or 0.14% during the session as it was trading at 16,598.05 points.