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Pakistan’s Rupee Falls to Record Low After Delay in IMF Deal

Traders gather at a fruit market in Lahore, Pakistan.

Traders gather at a fruit market in Lahore, Pakistan.

Photographer: Arif Ali/AFP/Getty Images

Pakistan’s rupee dropped to a record low on investor concern about the delay in the government reviving a $6 billion loan from the International Monetary Fund.

The South Asian nation has been in talks with the Washington-based lender to renegotiate the program with relaxations in some terms, including electricity and fuel price hikes. Finance Minister Shaukat Tarin had earlier said the IMF deal would be completed in the week ended Nov. 5.