Pakistani rupee tumbles to record low amid widespread unrest after Imran Khan's arrest

The rupee slipped 3.3% to an unprecedented low of 300 a dollar on Thursday, according to the foreign-exchange desk at Arif Habib Ltd, according to the report.

On Thursday, the dollar bonds maturing in 2031 experienced a rise in value, rebounding from their lowest level since November. They were indicated at 33.44 cents on the dollar.

Following a court order on Wednesday, Pakistan's government has sought assistance from the military to quell the ongoing violent protests. The order placed the 70-year-old politician in the custody of the anti-corruption agency for a duration of eight days.

The development comes at a time when the Pakistani government is trying to pursue the International Monetary Fund to restart its $6.5 billion bailout program amid a tough financial crisis.

"Pressure had built up after a few months of stability," Saleem Amjad, chief executive officer at Link International Exchange Co. in Lahore was quoted as saying by Bloomberg. "Sentiment turned sour given the political turmoil, the prospect of another delay in the IMF loan and a drop in remittances."

Pakistan’s Supreme Court will hear Imran Khan's appeal against his arrest later Thursday.

So far, at least seven people lost their lives in the protest violence and dozens more injured.