Tag: Ship breaking Pakistan
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Pakistan: Steel Prices Surge Amid Currency Depreciation; Scrap Offers Move Up
Yesterday Pakistani Rupee (PKR) depreciated again by almost 4% as the exchange rate PKR/USD moved up to 119-120 as against 115-116 a day earlier. In recent conversations with market participants, SteelMint learned that National Bank of Pakistan yesterday announced the third major devaluation of Pakistani Rupees against USD since Dec’17. PKR depreciated by around 4%…