In the interbank market, the value of the rupee against the dollar is being seen once again, the dollar became expensive by 3 rupees 86 paise to 287 rupees 90 paise.
Experts attribute this to the expected decision of the Supreme Court and the political upheaval in the country.
According to the Exchange Companies Association of Pakistan, in the interbank market, the dollar became more expensive by 3 rupees 86 paisa to 287 rupees 90 paisa, which according to the Central Bank, is an increase of 0.44 percent or 1 rupee 25 paisa.
Saad Bin Naseer, director of financial data and analytics portal Mets Global, said that the main reason for the decline in the value of the rupee is the political uncertainty and pending court decisions. .
He further said that the government is not able to reach a staff level agreement with the International Monetary Fund (IMF) while 300 million dollars have also come from China, but they have not yet arrived.
Saad bin Naseer added that the IMF has said that the inflation will increase further, besides that, the monetary policy meeting is to be held today by the central bank, it is also to be seen how much the interest rate would be increased.
Pakistan is currently suffering from severe economic crisis, its reserves are only around 4 billion 24 billion dollars, which can barely cover 4 weeks of imports, in such a situation the country should immediately sign an agreement with the IMF. needs to be done, which will not only provide $1.2 billion but also pave the way for funds from friendly countries and other multilateral lenders.
312 points decrease in Pakistan Stock Exchange
On the other hand, the benchmark SE-100 index of Pakistan Stock Exchange (PSX) is also witnessing decline.
The KSE-100 index fell by 312 points or 0.78% to 39,577 points at around 12:04 PM, which had closed at 39,890 points yesterday.