Pakistani Rupee declines further against US dollar

Pakistani Rupee declines further against US dollar

ISLAMABAD - Pakistani Rupee has further depreciated against the US dollar in the interbank market.

US dollar gained some 45 paisas in value against the national currency on Monday.

With the gain of 45 paisas, the dollar appreciated against Pakistan Rupee (PKR) to hit Rs133.70 in the inter-bank market.

Amid fast depleting forex reserves and external accounts imbalances, the PKR is under pressure and has lost nearly 10 per cent of its value in the last few weeks. ------------------------------

Experts say that the Pakistani currency is coming under increased pressure after reports that the US is interfering in the IMF bail-out for Pakistan.

A state department spokesman has recently stated that the IMF loan must not go to service the debts Pakistan has acquired from China.

More from this category