Rupee nears all-time low against US dollar.

Islamabad -- Continuing its downward spiral, the Pakistani rupee neared its all-time low of Rs239.94 in the inter-bank market on Wednesday.

At the end of the session, the State Bank said that the rupee depreciated by 0.31% to close at Rs239.65 against the greenback.

The fall of the PKR has continued despite receiving a $1.16 billion loan tranche from the International Monetary Fund (IMF) last month. The rupee has continued to spiral down the hole and has yet to see a positive...