English | دری

Pakistani Currency Could Drop To 200 A Dollar By 2020

in International Business

Pakistani Currency Could Drop To 200 A Dollar By 2020

Pakistani Currency Could Drop To 200 A Dollar By 2020

Pakistani currency continues to lose its value in the international market, dropping more than 5% in May and standing at 150 per dollar.

According to Bloomberg, the rupee hit its record-low 152.525 last week and stood among the worst performers globally in May together with currencies from Zambia and Haiti.

Speaking to Gulf News, economist Kaiser Bengali predicts Pakistani rupee to slide to 200 a dollar by year end, given the country’s large deficit and high debt ratio.

The rupee has now erased almost a third of its value in the past 12 months.

Pakistan’s central bank said the performance of the currency reflects demand and supply conditions in the foreign exchange market.

While the bank still intervenes, the currency is now more determined by market forces, according to foreign exchange dealers.


Tags assigned to this article:
Pakistani currency

Related Articles

UK in landmark £50m pork deal with China

The UK has agreed a £50m trade deal to sell British pork to China, the world’s biggest market for pig

India boosts presence in West Africa with trade, cooperation

India’s footprint is growing in West Africa, especially in two main players in the region, Nigeria and Ghana, with increased

World Bank lowers China’s growth projection

The World Bank’s forecast of China’s economic growth went down from 8.2% to 7.7% amid the dwindling economy of the

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*