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Pakistani dollar bonds fall after Modi govt scraps Kashmir's special status

Reuters     August 5, 2019

Pakistan's dollar bonds fell across the curve on Monday after India's government revoked the special status of Kashmir in an effort to fully integrate its only Muslim-majority region with the rest of the country.

The bonds have been under pressure in recent days on renewed tension over Kashmir, which is claimed by both India and Pakistan, but Monday's move by the government triggered a new fall, with Pakistan's 2027 issue losing 1.7 cents in the dollar to reach its lowest level in more than a month, according to Tradeweb.

Also Read: J&K Crisis Live Updates: History will judge whether it was historic or not, says Kapil Sibal

Also Read: Article 370 scrapped: Pakistan condemns Modi govt's Kashmir decision, calls it 'illegal'

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