Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Pakistan rupee, bonds fall to new low after Imran Khan arrest

Published 05/10/2023, 04:09 AM
Updated 05/10/2023, 04:40 AM
© Reuters. FILE PHOTO: A currency trader counts Pakistani Rupee notes as he prepares an exchange of U.S dollars in Islamabad, Pakistan December 11,  2017.  REUTERS/Caren Firouz

KARACHI, Pakistan (Reuters) -The Pakistani rupee fell 1.3% to a record low of 288.5 against the U.S. dollar on Wednesday, a day after former prime minister Imran Khan was arrested by the anti-corruption agency in Islamabad.

Pakistan's international bonds nudged lower with the 2024 issue down 0.4 cents on the dollar, according to Tradeweb data.

© Reuters. FILE PHOTO: A currency trader counts Pakistani Rupee notes as he prepares an exchange of U.S dollars in Islamabad, Pakistan December 11,  2017.  REUTERS/Caren Firouz

The bonds trade at deeply distressed levels between 49 cents on the dollar for shorter-dated maturities while longer-dated ones changed hand at around 33 cents. 

Following the arrest, clashes erupted between Khan's supporters and police, leaving at least one protester dead. The interior ministry has suspended mobile broadband services in the country.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.