Tag: Pakistan Currency Depreciation
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Pakistan: Scrap Importers Turn Apprehensive on Sharp Currency Devaluation
Yesterday Pakistani Rupee (PKR) depreciated again by almost 6%, PKR moved up to 129 against USD which was at 121.6 a day earlier. In recent conversations with market participants, SteelMint learned that yesterday Pakistan’s currency has depreciated further by around 6% seeking to slow the depletion of its foreign-exchange reserves before a national election in…