> 'The figures are unbelievable': Pakistan rupee plunges to all-time low against the dollar / 337W4XE
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'The figures are unbelievable': Pakistan rupee plunges to all-time low against the dollar / 337W4XE
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Description
The Pakistani rupee has plunged to an all-time low against the US dollar after Islamabad lifted an exchange cap in an effort to unlock a vital bailout from the IMF. The country is gripped by an economic crisis, with its currency falling as low as 255.43 rupees to the dollar. The previous official low of 240 rupees was recorded in July 2022, with Pakistan's economy suffering from political chaos and devastating floods. "I have never seen this situation in my life" says Jabbar Surfraz, an investor at the Pakistan Stock Exchange, "these figures are unbelievable, we didn't expect this bad a situation." IMAGES AND SOUNDBITES