Dawood Ahmed:
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The Pakistani rupee witnessed a major depreciation as it sank Rs.19 against the US dollar in interbank on Thursday. Local currency trading at a historic high of Rs284.85 in morning trade, according to data shared by the Exchange Companies Association of Pakistan (Ecap).
Analysts attributed the record drop — which is 7.04pc — to the government’s impasse with the International Monetary Fund (IMF).
On Wednesday, the PKR closed at Rs266.11 per dollar, according to SBP data.
