Pakistan’s Rupee hit hard – As reported by Bloomberg 16 May 2019 – Four days after Pakistan agreed to a bailout package from the IMF, the country’s currency hit an all time low as the stocks plummeted. The rupee dropped 3.1% to 146 a dollar at around 10 in the morning. According to Bloomberg, the currency fell down by more than 20% in the last year alone, making it the worst performer in Asia.
Investors speculate that the bailout package involves stringent measures to reform the economy. The KSE100 is moving towards its lowest close in 3 years.The IMF is of the view that a market determined exchange rate is very likely to help the economy.
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