The Pakistani rupee declined on Tuesday as the US dollar rose due to increased demand from importers.
The Pakistani rupee dropped 1.03 percent (or Rs1.9) against the US dollar in the interbank market, according to the State Bank of Pakistan (SBP), as concerns about weak economic fundamentals weighed on morale.
Forex traders say the rupee has been under pressure on import payments since yesterday (Monday). In addition, the outlook looks bleak due to a stalled International Monetary Fund (IMF) program, a widening trade deficit and depleted foreign exchange reserves.
