Pakistani rupee sees decline as US dollar strengthens

KARACHI- The Pakistani rupee maintained its downward trend for the eighth consecutive working day, as it fell by Rs2.18 against the US dollar in the interbank market on Tuesday.

The greenback was being traded at Rs232 in interbank.

On the other hand, after gaining Rs2.0 in open market, the US dollar was being traded at Rs238.

The greenback is on a winning streak despite State Bank of Pakistan (SBP) getting much needed funds from International Monetary Fund (IMF).

According to economic experts, decline of rupee is due to increase in the dollar indexes internationally as well as country’s soaring current account deficit.