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Pakistan Rupee

Image: Wikimedia Commons

Pakistan rupee nosedives to historic low against US Dollar

India Blooms News Service | @indiablooms | May 25, 2022, at 08:48 pm

#PakistanRupee #USDollar

Islamabad: The Pakistani rupee has dropped to a historic low point of Rs202 against the US dollar on Wednesday.

The rupee has been declining for months, but the fall became precipitous in March when the then opposition parties tabled a no-confidence motion against Imran Khan that led to his ouster, reports Geo News.

“There are chances of delay in the IMF outcome,” Arif Habib Limited Head of Research Tahir Abbas told Geo.tv. “The rupee will continue to decline until some positive news comes from the IMF front,” he added.

The analyst further added that the political upheaval was also contributing to the devaluation of the local currency.

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