ADB makes Pakistani rupee debut

Pakistan Adobe_sept 25_575px
By Frank Jackman
19 Nov 2020

The Asian Development Bank made its first foray into the Pakistani rupee market this week, tapping a growing appetite for frontier currency-linked paper.

The supranational raised Prp1.83bn ($11.5m) with its debut Pakistani rupee-linked bond, which will pay and redeem in US dollars.

The supranational has dubbed offshore issue a karakoram bond after the mountain chain that straddles the borders of Pakistan, China and India.

Citi ran the 7.5% August 2023 ...

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