Tag: Pakistan Currency Depreciation
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Pakistan: Imported Scrap Market Silent on Sharp Currency Depreciation; Steel Prices to Surge
Today Pakistani Rupee (PKR) depreciated again by almost 7-8%, hitting record low of 137-138 levels against USD which was at around 124-125 a day earlier as per forex. In recent conversations with market participants, SteelMint learned that today Pakistan’s currency has depreciated further by around 7-8%. Pakistani Rupee devaluation by the State Bank of Pakistan…