Passersby walks past an advertisement board with photos of Pakistani rupee to attract customers at a money exchange along a sidewalk in Karachi, Pakistan June 11, 2018. - REUTERS
KARACHI: Pakistan’s central bank devalued the rupee for a third time since December amid a worsening economy and speculation the country will need support from the International Monetary Fund (IMF).
The managed currency dropped as much as 5.1% to 121.5 per US dollar in trade yesterday, according to bank foreign-exchange traders who asked not to be identified as they are not authorised to speak to the media. The central bank couldn’t be immediately reached for a comment.
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