Pakistan Rupee Rallies 4% on IMF Bailout After Market Holiday
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Pakistan’s rupee surged on optimism the International Monetary Fund’s bailout will boost demand for the nation’s assets.
The rupee advanced 4% to 274.5 per dollar on Tuesday, according to the foreign-exchange desk at Arif Habib Ltd. as the local market reopened after a four-day holiday. Pakistan dollar bonds due 2031 climbed for an 11th day on Tuesday, with the notes trading at 48 cents on the dollar. The benchmark stock index was little changed