No End In Sight For Rupee's Woes

August 2008 | Market Alert

It has been a dismal week indeed for the rupee, with a new record low of PKR76.90/US$ set today, translating into a weekly slide of 6.3%. News that President Pervez Musharraf is ready to resign - although he has not confirmed them himself - appear to have rattled the unit, and as we have pointed out before, there is no obvious floor from here.

If you would like to subscribe to Emerging Markets Monitor and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Emerging Markets Monitor please click on the trial link below.