Pakistan's Rupee Drops to Record Low on Move to Oust Musharraf
Aug. 13 (Bloomberg) -- Pakistan's rupee dropped to a record as an attempt
to impeach President Pervez
Musharrafgathered
pace, spurring speculation political turmoil will deter overseas
investors from buying the nation's assets.
The rupee is the worst performer this year among Asia's 16 most-traded
currencies as inflationat
the fastest pace in three decades and a record trade
deficit prompted
global funds to scale back their local holdings. Two out of the nation's
four state assemblies passed resolutions in the past two days demanding
Musharraf to seek a confidence vote from the parliament or face impeachment
proceedings.


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