The rupee’s value plunged again on Friday with the local currency closing at a record low of Rs276.58 per dollar in the interbank market, according to the State Bank of Pakistan.
This equates to a depreciation of Rs5.22, or 1.89 per cent, from yesterday’s close of Rs271.36.
Today’s slide comes as the government continues talks with an International Monetary Fund (IMF) delegation, which is currently in Islamabad to finalise the ninth review of its $7 billion loan programme to Pakistan. If the review is successful, it would pave the way for a $1.2 billion tranche for Pakistan.
