Pakistani rupee reaches record low against USD-Xinhua
Pakistani rupee reaches record low against USD-
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Pakistani rupee reaches record low against USD-
ISLAMABAD, March 2 (Xinhua) -- Pakistani rupee suffered a big blow against the U.S. dollar as the greenback was traded at a historic low of 285.09 rupees in the
Local currency closes at Rs278.46 per dollar; analyst says expectations of agreement with IMF behind PKR's recovery.
Local currency closes at Rs278.46 per dollar; analyst says expectations of agreement with IMF behind PKR's recovery.
The State Bank of Pakistan has increased the policy rate by 300 basis points which is the highest since October 1996, according to a Dawn report. The rate hike of 20% came as part of the country's bid to secure a $1 billion loan from the International Monetary Fund (IMF). In defense of its move, the State Bank of Pakistan said the decision reflected the "deterioration in