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IMF Bailout Optimism Spurs Rally in Pakistan Stocks, Rupee

  • Pakistan rupee rises as much as 2%, while stocks also jumped
  • Fuel price hike brings Pakistan close to IMF funds, Wahab says
Updated on

Pakistan’s assets rallied on optimism the beleaguered nation may succeed in securing a critical financing from the International Monetary Fund. 

Stocks advanced as much as 2.4% on Friday while the currency jumped the most in seven weeks after Pakistan’s government increased fuel prices to meet a key IMF condition for reviving a bailout program. The nation’s dollar-denominated bonds posted record one-day gains.