Pakistani officials insist that they have no intention of defaulting, and the Pakistani rupee rose this week amid signs that the International Monetary Fund might step in to rescue .
The economy is in poor shape, with inflation at 25%, a chronic electricity shortage, a slowdown in growth, evaporating foreign-exchange reserves and a rupee trading around record .
Most coveted, according to traders, are the Australian dollar, the Indonesian rupiah, and even the infrequently circulated Sri Lankan rupee.
Rupee Set for Sixth Weekly Loss on Fed Exit Concern; Bonds Fall India’s rupee headed for a sixth weekly drop, the longest losing streak in a year, on speculation U.S. policy makers will scale back asset purchases that have boosted inflows into emerging markets. Bonds fell on concern a weaker currency will spur inflation.
June 14, 2013 - Bloomberg
Rupee extends gains on WPI; exporters sell dollars Reuters Market Eye - The rupee extends gains after headline inflation eases further, holding out some hopes for a rate cut, say dealers. The Indian unit is at 57.64/65, off 57.93 lows, versus 57.98/99 ...
June 14, 2013 - Reuters via Yahoo! Finance
Rupee posts sixth straight weekly fall; gains on day By Swati Bhat MUMBAI (Reuters) - The rupee gained on Friday on the back of large dollar selling by exporters in spot and forward markets, ending a tough week that saw the currency slump to a record low ...
June 14, 2013 - Reuters via Yahoo! Finance