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Pakistani Currency Could Drop To 200 A Dollar By 2020

09 Jun 2019 Wadsam Afghanistan Business News

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.

The post Pakistani Currency Could Drop To 200 A Dollar By 2020 appeared first on Wadsam.

Original Link: https://wadsam.com/international-business-news/pakistani-currency-could-drop-to-200-a-dollar-by-2020/

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