Rupee Depreciates for 2nd Month as Pakistan Struggles to Secure Steady Dollar Inflows

Rupee has depreciated against dollar for 2nd straight month due to low dollar inflows as loans.

Pakistan received $3.52 billion in foreign loans in July-Sept versus $2.23 billion last year.

Inflows dropped in August and September after initial boost from IMF and Saudi Arabia.

Economic managers failed to ensure steady dollar inflows after crackdown on moneychangers.

Pakistan needs $14.1 billion more in loans by June to meet annual target and avoid balance of payment crisis.