KARACHI, Aug 31(ABC): The US dollar continued to lose ground against the Pakistani rupee Wednesday despite deadly floods causing huge economic losses to the country.
Early estimates put the damage from the floods at more than $10 billion, government officials have said, adding that the world had an obligation to help the South Asian country cope with the effects of man-made climate change.
The major reason for the rupee’s uptrend was due to the approval from the International Monetary Fund’s (IMF) Executive Board to release the much-needed $1.17 billion tranche.