Pakistani Forex dealers say they expect the currency to remain under pressure.

The rupee PKR= was quoted closing at 84.86/96 to the dollar compared with Wednesdays close of 84.66/76. The weakest trade for the rupee Thursday was made at 85.07. That compared with the previous record low of 84.76 during trade on Wednesday.

Dealers said they expected the rupee to ease to more than 85 to the dollar in coming days.

Demand for dollars to pay for oil has increased since last month when the central bank ordered commercial banks to provide foreign currency for imports of crude oil, as part of Pakistan’s commitments under an International Monetary Fund (IMF) programme.

Previously, the central bank had provided dollars for crude oil imports.

Pakistan secured an IMF emergency loan package of $7.6 billion in November 2008 to help avert a balance of payments crisis and shore up reserves. The loan was increased to $11.3 billion in July last year.

The State Bank of Pakistan stopped providing foreign exchange for furnace oil imports in February 2008 and for diesel and other refined product imports in August last year.