Pakistan's currency plunges as it seeks IMF loan
4,077 views · Published 5 December 2018 · 2:23 · Indexed 13 October 2026
Channel: AP Archive · 2018 · News & Politics
(30 Nov 2018) Pakistan's currency has plunged further as the country is mired in a financial crisis and seeking an 8 billion US dollar bailout package from the International Monetary Fund (IMF). The Pakistani rupee traded at 142 to the dollar on Friday, compared to just under 134 rupees at close of business the previous day. Abdul Rauf, a broker at the Pakistan Stock Exchange in Karachi, said the fall sparked panic on local financial markets. Pakistan held talks with IMF negotiators earlier this month, and analyst Mohammad Suhail said the continuing fall of the rupee indicated the government had no option but to accept the IMF's conditions for a loan. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/cd3a55d0116ab25154ec0651c9148135
