13.7 C
London
Monday, May 23, 2022

Pakistani currency is at the lowest level ever, the Pakistani rupee has increased by more than Rs 188 against the dollar

- Advertisement -spot_imgspot_img
- Advertisement -spot_imgspot_img


Pakistani Rupee: The Pakistani currency fell by Rs 0.60 to an all-time low of Rs 188.66 against the US dollar in the interbank market on Tuesday amid uncertainty over the resumption of the International Monetary Fund (IMF) loan programme. This information has been given in the report of Geo News. According to the report, the local currency has crossed its record low of Rs 188.18 on 7 April.

Why has this decline come?
Currency dealers believe that the delay in the IMF program, lack of immediate financial assistance from friendly countries, depletion of forex reserves and widening trade deficit have kept the pressure on the domestic currency. In fact, the new government does not want to remove subsidies on fuel and electricity, which are pre-conditions for the revival of the IMF programme. This has spoiled the sentiments of the investors.

Other reasons for pressure on rupee
Besides, investors are worried about the falling forex reserves. The reason for this is that the export earnings are not enough to meet the market demand and the same is the case with increasing foreign debt payments and increasing imports. Geo News said that due to all these reasons, there is pressure on the rupee.

pakistan towards big economic crisis
There is also ambiguity on financial support from Saudi Arabia, the United Arab Emirates and China. Political temperatures are also rising after former Prime Minister Imran Khan’s announcement that he will hold a large march from Islamabad with his supporters after May 20 to demand new elections.

read this also

Swiggy: Swiggy has stopped this special service, people will have problems – know which cities were closed

Petrol Diesel Price: Petrol-diesel prices in these cities beyond Rs 100, know fuel rates today

,

- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img