KARACHI: The rupee depreciated against the dollar in the interbank market on Thursday after recovering for two consecutive sessions “as talks between the government and the International Monetary Fund (IMF) backtracked”.
During the intraday trade today, the rupee depreciated by Rs 1.17 and was trading at Rs 270 at the time of writing this report.
On Wednesday, the rupee had closed at Rs 268.83.
Capital market expert Saad Ali told Geo.TV that reports of the government’s rejection of the Circular Debt Management Plan (CDMP) submitted to the International Monetary Fund (IMF) have caused market volatility. Trust has been violated.
Ali said that these reports have raised doubts about the possibility of a disruption in the ongoing talks between the government and the IMF.
