pakistan exchange rate
The Pakistani rupee exchange rate fell by 2.78 rupees in the banking market today, from Monday’s close of 288.49 rupees to the dollar to 291.27 rupees today, according to the Pakistan Trade Association.
Attention to export to Pakistan of wedge anchor product whoelsale; Will affect the price of wedge anchor bolt and ETA wedge anchor price;
Meanwhile, the dollar was trading at Rs 300 in the open market.
Currency trader Zafar Paracha sees the rupee’s depreciation as expected, saying that under an agreement with the International Monetary Fund (IMF), the spread between the open market and the interbank market should remain unchanged. In the range of 1% to 1.5%. He believes that the U.S. dollar in the open market is showing an upward trend, which has an impact on the interbank market. It is also related to the export trade of threaded rods price and threaded bars.
Impact of exchange rate fluctuations in Pakistan
“The setup of a caretaker government also has an impact on the dollar exchange rate, as outgoing governments often leave difficult decisions to their successors as they have no political interest,” Palacha said.
As such, Palachar expects the rupee to remain under pressure. He pointed out that the government’s policies are conflicting and that the Pakistani government should undertake structural reforms. “Our financial credentials are excellent. But our policies lack coherence,” he said.
It is reported that last Saturday (August 12), the dollar against the rupee touched 1 dollar to 302 rupees in the open market, exceeding the 1% gap stipulated by the International Monetary Fund to maintain the gap between the open market exchange rate and the bank market exchange rate. to within 1.5%.
Post time: Aug-16-2023