Pakistani rupee and bonds fall to new low after Imran Khan arrest

KARACHI, PAKISTAN: The Pakistani rupee fell 1.3% to a record low of 288.5 against the US dollar on Wednesday, a day after the arrest of former Prime Minister Imran Khan by the anti-corruption agency in Islamabad.
Pakistan’s international bonds fell with the 2024 issue down 0.4 cents on the dollar, according to Tradeweb data.
Bonds are trading at deeply distressed levels between 49 cents on the dollar for shorter maturities while longer maturities are changing hands at around 33 cents.
After the arrest, clashes erupted between Khan supporters and police, leaving at least one protester dead. The Interior Ministry has suspended mobile broadband services in the country.


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