KARACHI: The Pakistani rupee witnessed a new all-time low in value against the US dollar on Tuesday, losing another Rs1.34 to reach and close at Rs288.43 in the interbank market.

According to a currency expert, lack of developments on resumption of the International Monetary Fund (IMF) programme was prime reason behind the rupee's fall.

This comes a day after the local unit had registered a significant decline against the greenback, settling at 287.09 in the inter-bank market after a loss of Rs2.44 or 0.85 per cent.

The dollar has gained Rs105.51 in value against the local currency during one year tenure of Prime Minister Shehbaz Sharif. The local unit also lost Rs58.70 in value against the dollar since Ishaq Dar assumed command of the federal finance and revenue minister.