ISLAMABAD, March 19 -- The rupee may depreciate further against the dollar in coming days as Pakistani officials are hinting at adopting flexible exchange rate to secure an IMF bailout package.
A Federal Minister on Monday said Pakistan will adopt a more flexible exchange rate policy by moving away from a managed currency regime
"The government is willing to spend political capital for much needed structural reforms ...and it will adopt a flexible exchange rate regime," said Federal Minister for Planning Khusro Bakhtyar on Monday.
Earlier, Finance Minister Asad Umar had said the timing and pace of adjustments on flexible exchange rate was a matter of difference between Pakistan and the IMF but now the differences had narrowed down.
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