KARACHI, Pakistan: For the eighth straight business day, the Pakistani rupee went down. On Tuesday, it fell by Rs2.18 against the US dollar on the interbank market.
The dollar was being traded between banks for Rs. 232.
On the other hand, the US dollar was worth Rs238 after it gained Rs2 on the open market.
Related: Interbank, the US dollar keeps going up against the PKR.
Even though the State Bank of Pakistan (SBP) got much-needed money from the International Monetary Fund (IMF), the dollar is still on a roll (IMF).
Experts in economics say that the fall of the rupee is caused by the rise of dollar indexes around the world and the country’s rising current account deficit.