Karachi: The depreciation in Pakistani rupee continued as it was traded at a record low early on Wednesday. The experts say that depreciation was because of pressure from import payments and a bleak outlook for the country’s economy.
“The rupee was traded at 89.40 (to the dollar) and so far there has been one (import) payment of about $40 million to $45 million,” said a bank dealer.
The rupee was trading at 89.40/30 to the dollar at 10:10 a.m local, compared with Friday’s close of 88.96/89.00.
The previous low was 89.02 on Friday.
