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- The drop comes a day after foreign exchange companies removed a cap on the exchange rate, a key demand of the IMF as part of a programme of economic reforms it has agreed on with the cash-strapped South Asian nation.
www.reuters.com/markets/currencies/pakistani-rupee-records-sharp-drop-early-trading-vs-dollar-trade-data-2023-01-26/Pakistani rupee plummets as markets adjust to removal of ...
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Jan 26, 2023 · Pakistan has abandoned controls on its currency exchange rate as authorities attempt to revive an IMF bailout, sending the rupee to a record low as the crisis-hit economy risks collapse.
- Benjamin Parkin
Jan 26, 2023 · The Pakistani rupee plunged to a record low of Rs 255.43 against the dollar in the interbank market on Thursday, sliding Rs 24.54 or 9.61 per cent from yesterday’s close. This came after the removal of an “unofficial price cap on the exchange rate”, Dawn reported.
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Jan 26, 2023 · In the open market, the rupee weakened from 243 rupees to the dollar to 262, a drop of about 7%, having lost 1.2% the previous day, according to the Exchange Companies Association of Pakistan...
Feb 21, 2024 · The most painful manifestation of Pakistan’s economic crisis has been inflation, which peaked at 38 per cent last year and remains near 30 per cent. Pakistan’s import-dependent economy was hit ...
- Benjamin Parkin
Jul 22, 2022 · The Pakistani rupee’s 7.6 per cent tumble to Rs228 to the dollar marked the latest setback for the currency, which has fallen sharply this year. It marked the rupee’s sharpest weekly drop ...
Dec 27, 2022 · With the government struggling with high import payments, depleting foreign exchange reserves and political uncertainty, the overall value of the Pakistani rupee depreciated by Rs48.38 against the ...
Jul 20, 2022 · On Tuesday, sovereign dollar bonds issued by Pakistan suffered sharp losses to record lows after Fitch’s move, while the Pakistan Stock Exchange’s KSE100 Index fell 2.36 percent.
