The Pakistani rupee briefly weakened to 138 to the dollar on Tuesday before settling at 133.6. The rupee was trading at 124.3 at close of business Monday, before the announcement was made.
A Pakistani delegation will meet with IMF officials in Indonesia later this week. After a visit last week, the IMF said Pakistan is facing significant economic challenges, with diminishing growth, high fiscal and current account deficits, and low foreign exchange reserves.
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