Rupee hits all-time low against Japanese yen

Aggressive buying of Japanese yen by importers and corporate clients resulted in the rupee value to close down at an all-time low. Pakistani rupee equated in price to the Japanese yen on Wednesday. The rupee lost more than 30 paisa against the yen during the last two years. The yen strengthened against all major currencies including the dollar across the globe. However the rupee lost value sharply as compared to other currencies. According to experts the changing value of yen will have substantial impact on the automobile industry of Pakistan.