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Pakistan’s Rupee Has Worst Month Ever Amid IMF Loan Concern

  • Currency slides to record low in July during dollar shortage
  • Renewed political turmoil raises doubts on funding from IMF
Rupee banknotes in Karachi.

Rupee banknotes in Karachi.

Photographer: Asim Hafeez/Bloomberg
Updated on

Pakistan’s rupee had its worst month since 1989 amid a dollar shortage and concern over a delay in an International Monetary Fund bailout program.

The currency fell more than 14% against the dollar in July, ending Friday’s trading at 239 per greenback, the biggest monthly slide since Bloomberg started compiling data in 1989. It’s among the worst currency decliners globally for the month.