Posted 3/6/2024, 1:55:47 AM
Pakistan Seeks IMF Loan Amid Currency Volatility and Speculation
- Dollar has been appreciating against the rupee since early March, allowing speculative forces to take advantage
- IMF aims to increase Pakistan's imports by 50% by end of 2024, putting pressure on foreign reserves
- Pakistan seeking $6 billion IMF loan but must meet conditions quickly
- Currency dealers predict more exchange rate volatility due to IMF uncertainty and dwindling reserves
- Rising dollar demand could worsen shortage, benefiting speculators and black market
