Plunge by 1,379 points to close at 38,342, making it single largest drop witnessed in 7 months

The market is expecting rupee depreciation to around Rs260 against the US dollar in the interbank

Exchange companies say rate will increase inflow of remittances

SBP says inflows stood at $2.10b in Nov; major reduction comes from UAE

Growth in bank advances, drop in deposits helped them avoid additional taxes

Lenders anticipate a further increase in central bank’s interest rate

Attributes closure to the non-availability of dollars to import raw material

Business community says without IMF, reforms funding won’t change anything

Financing LCs through open market to divert forex from hawalahundi markets

Recommended adoption of austerity measures, urgent restructuring of debt