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.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.