Rupee depreciates further, hits new low

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KARACHI: The rupee devalued further against dollar to hit new low in interbank foreign exchange market, dealers said on Thursday.

The rupee depreciated by 4 paisas to end at Rs133.80 to the dollar from previous day’s close of Rs133.76 in interbank foreign exchange market.

The dealer said that the formal request of the government to the IMF for fresh loan program impacted the value of the local unit.

In cash ready market the rupee, however, gained as buying and selling of dollar recorded at Rs132.00/Rs133.00 as against previous day’s close of Rs133.50/Rs135.50.

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