And even with the recent announcement that a deal for a bailout package worth $6 billion has been sealed with the International Monetary Fund (IMF), the ominous signs refuse to fade. On Wednesday, the country’s currency crashed to an all-time low against the US dollar to further deepen the crisis. This is a record low for the currency which has oscillated between PNR 140 and PNR 145 in recent months. Prior to this, the exchange rate figure stood at PNR 123 for every US dollar on the day Imran Khan took oath as PM in August of last year and was at PNR 115 only months prior to this. In the past, the country’s central bank has repeatedly devalued the currency in a bid to deal with a possible payment crisis.
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