PKR USD: Pakistan Expects to Avoid Rupee Devaluation in IMF Negotiations

Pakistan’s new government does not anticipate any significant currency devaluation as part of its negotiations with the International Monetary Fund to unlock billions of dollars in lending and bolster the nation’s economic reform agenda.

Finance Minister Muhammad Aurangzeb said there’d be no reason for the rupee to depreciate more than the range of about 6% to 8% seen in a typical year. Pakistan last devalued its currency in January 2023.