Rupee’s fall continues; hovers around all-time low against US dollar

rupee us dollar

Islamabad: The Pakistani rupee continued its unstoppable fall on Tuesday and slid for the 13th consecutive session against the US dollar in the interbank during intraday trading.

During the intra-day trading, the local currency was hovering around the all-time low of Rs239.94 that it recorded against the greenback on July 28.

The fall of the PKR has continued despite receiving a $1.16 billion loan tranche from the International Monetary Fund (IMF) last month. The rupee has continued to spiral down the hole and has yet to see a positive session this month.

All you need to know about Pakistan, IMF deal

Experts say the country’s borrowing needs are expected to increase in the wake of massive devastation caused by flash floods, which will also drive up the import bill.

This is an intraday update.

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