Pakistani rupee tumbles to fresh life-time low against dollar

Pakistani rupee tumbled to a fresh life-time low of Rs 150 per dollar today amid rising demand for the greenback. The deterioration of the rupee followed a USD 6 billion assistance package by the International Monetary Fund (IMF) under strict conditions, including allowing more space to market forces to determine the exchange rate. The weaker rupee had a domino impact on the stock market. The Pakistan Stock Exchange 100 index lost 804.5 points to close at 33,166, registering a 2.4 per cent downf...