Rupee on Brutal Fall Against Dollar: Rs 212 at Interbank, Rs 215 at open market

The Pakistani rupee remained extremely volatile and continued to fall against the US dollar on Tuesday, falling nearly Rs2 in intraday trade.

Presently, the dollar is trading at Rs212, up over Rs2 from the record high of Monday, of Rs209.96, as per the tresmark.

Besides the postponement in the relaunch of the IMF organisation, the rupee constantly goes with its slow declination, which is directly connected with the quarter-end payments because of the mounting import bill of the country, extending the current account deficit and declining the reserves of foreign exchange.  

The current declination in the value of the rupee in opposition to the greenback came after traders started to rush to purchase in a reaction to the problems that a small number of commercial banks were experiencing a shortage of foreign currency.