The US dollar surged to its all-time high of Rs 125 against the Rupee in the open market on Wednesday after gaining by a further Rs 0.5 from yesterday.
Pakistani rupee continued its slide in an apparent sign of vulnerability in the country’s economy.
In the interbank market, however, the dollar has weakened by Rs 0.33 and was being traded at Rs 121.40, after hiking to Rs 121.73 earlier, forex dealers said.
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The rupee drop threatens to squeeze consumers ahead of the general election set for July 25.
Some analysts expect that the Rupee will weaken further in the coming days as the central bank isn’t taking measures to bolster up the currency.
Pakistan is set to pay the seventh installment of about $190 million to the IMF against its Extended Fund Facility arrangement this month. The next payment is due on July 22, 2018.
The country successfully completed a $6.7 billion three-year loan programme with the IMF in September 2016.
The declining foreign reserves and a widening current account deficit have triggered speculation about going back to the International Monetary Fund for loans for the second time since 2013 which was a possibility that was vehemently rejected by interim finance minister Dr Shamshad Akhtar earlier this month.
In December and in March, the rupee was devalued, each time by about 5 percent, by the State Bank of Pakistan. Since December, the rupee has depreciated by about 14 percent.
thank you mian sanp
میان سانپ کو اترے سال ہو گیا لیکن یوتھیا ایسا کوئی بیغیرت ہے آج بھی نگران حکومت کے کیے دھرے کو اس کے کھاتے میں ڈال دیتا ہے. میاں سانپ کے ہوتے ہوئے تیرے ملک کی ایکسچینج بہت اوپر جا رہی تھی. لیکن یہ خلائی مخلوق نے ہمیشہ اپنے چیلے چماٹوں کے ذریعے اس ملک کا بیڑا غرق کیا ہے.
Only shows your level of mentality. Not your fault. When a government hardly spends any money on education and betterment of it’s people … exactly this reaction is to be expected.
Whatever your government did, this is the ‘reaction’ of that. In 5 years of your tenure, you have left Pakistan at significantly WORST position it has EVER been at. EVER.
But you, please, carry on sucking toes of your “Ghairat Mand Hakoomat”. Idiots.
Yup at worst position where there is no terrorism, load shedding has decreased a lot, stock exchange once hit 50,000+ index, you got 3g/4g, better roads, motorways, new hospitals in punjab.
لیکن جس یوتھیے کے دماغ میں عمران خان کی ٹٹی بھری ہے اسے یہ سب نظر نہیں آتا. اسے زرداری کا دور بہتر نظر آتا ہے.
“Yup at worst position where there is no terrorism, load shedding has decreased a lot, stock exchange once hit 50,000+ index, you got 3g/4g, better roads, motorways, new hospitals in punjab.”
You just proved by point. No education mentioned, again. lol. Because if you were so educated, you would AT LEAST have some brain to see the real outlook.
Loadshedding decresed. Lies of the century.
Thank You, mister.
یہ بات جا کے اپنی باجی مریام سے کر……