Pakistani Rupee Rallies on New Government and IMF Hopes

• Dollar falls to 5-month low against Pakistani rupee due to new government and positive IMF signals • Rupee has appreciated against dollar over last 3 months, boosted by finance minister's IMF comments • Appointment of new finance minister Aurangzeb welcomed by financial sector • Pakistan relies heavily on IMF loans and support for debt servicing • Import cuts by caretaker government reduced twin deficits but hit economic growth into negative territory