Pakistani rupee devalues close to much anticipated Rs200
The latest depreciation comes in the midst of the start of talks between the government and the International Monetary Fund (IMF) for the revival of the Multi-Miliar Dollar Loan program that is jammed.
The domestic currency has maintained a decline in consecutive working days in a row because cumulatively lost 7.5 % or RS13.92.
The importer has maintained a panic dollar purchase with the assumption, the IMF may not continue the loan program after the government remains reluctant to meet its prerequisite requirements.
Finance Minister Miftah Ismail said on Sunday that they would try to convince the IMF to soften their condition.
The IMF has asked the government to attract subsidies on petroleum and electricity products.
Experts believe that the country really needs an IMF program to be cont...