Pakistani rupee touches all-time low against dollar after IMF deal

Japan News | May 17, 2019 at 10:46 AM
  • 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.
  • The IMF is seeking a market-determined exchange rate for the rupee as part of conditions for the $6 billion deal and as Pakistan struggles with a looming balance of payments crisis and low foreign reserves.