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PAKISTANI FOREIGN CURRENCY DEALER COUNTS US DOLLAR IN KARACHI, 1998-07-10 (photo)

IMAGE number
REU8165394
Image title
PAKISTANI FOREIGN CURRENCY DEALER COUNTS US DOLLAR IN KARACHI, 1998-07-10 (photo)
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Photographer
Str Old
Medium
photograph
Date
1998 AD
Shooting Date
1998-07-10
Image description

A Pakistani foreign currency dealer inspects U.S. dollars July 10, as demand for the currency suddenly heightened on Friday amid fears of an economic meltdown and strong indications that Pakistan may go for a default on its external debt. The U.S. dollar went up to 60 Rupees in the kerb market against the official quoted rate of Rs 46 to a dollar. At the close the dealers were buying dollars at Rs 58 and selling it at Rs59. However, currency dealers claim that there is a severe shortage of U.S. dollars as people wait for it to go further up. ZH/JDP/SB

Photo credit
REUTERS/Str Old / Bridgeman Images
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