Pakistan's rupee dropped to an all-time low of 146.5 to the dollar Thursday, days after Islamabad announced it had reached an agreement with the International Monetary Fund on a fresh bailout for its troubled economy.
"It was expected any time after the IMF deal, and happened today," Saad Hashemy, chief economist at the Topline Securities, said of the drop. The IMF, he said, wants"minimal interference" from the state bank to support the rupee as inflation rises.
Source: News Formal (newsformal.com)
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