MarketNews360
  • APPS
  • Tech
  • Entertainment
  • Business
  • NEWS
  • FAMILY
  • Home improvement
  • Lifestyle
  • GAMES
  • Fashion
No Result
View All Result
Plugin Install : Cart Icon need WooCommerce plugin to be installed.
  • APPS
  • Tech
  • Entertainment
  • Business
  • NEWS
  • FAMILY
  • Home improvement
  • Lifestyle
  • GAMES
  • Fashion
No Result
View All Result
MarketNews360
No Result
View All Result
Home Business

Rupee continues slide against USD, shoots past Rs205

admin by admin
June 14, 2022
in Business
39 0
0
Rupee

Rupee

32
SHARES
356
VIEWS
Share on TwitterShare on Facebook

KARACHI:

The Pakistani Rupee is being traded at Rs205.31 against the US dollar after it shed Rs1.51 in the interbank market on Tuesday.

A day earlier, the PKR had closed at Rs203.85 against the USD.

The rupee is in freefall against the greenback for the third consecutive day amid pressure on Pakistan’s foreign exchange reserves due to uncertainty surrounding the revival of the International Monetary Fund (IMF) programme.

MBA Capital Executive Director Saad Hashemy said the prolonged delay in the revival of the IMF programme has “weakened the rupee over and above its fair value.”

The real effective exchange rate (REER) – the value of the rupee against the basket of currencies of foreign trading partners – may have depreciated to around

https://marketnews360.com/2022/06/09/watch-123-movies-antiques-road-trip-online-free/
https://marketnews360.com/2022/06/09/watch-123-movies-antiques-road-trip-online-free/

90 on the index at the current rupee-dollar parity.

Read Rupee breaches 200-a-dollar barrier

The central bank used to maintain it around 96-97 on the REER index when the currency stood stable. “The REER projection at current rupee-dollar parity suggests a fair value of the domestic currency stands at around Rs190 against the US dollar,” he said.

The revival of the IMF programme and rollover of Chinese debt of $2 billion would provide the much-needed support to the rupee against the US dollar and the basket of currencies of global trading partners, he said.

In addition to homegrown issues and delays in the IMF programme, Hashemy said, the rupee has come under mounting pressure in the wake of global economic slowdown and high global commodity prices – mainly petroleum product prices.

Tags: IMF programmepast Rs205Rs190Rupee continuesUSD
Tweet8Share13Share3Share
Previous Post

Govt mulls doubling toll tax on motorways

Next Post

Dogs Make Great Exercise Partners

admin

admin

Next Post

Dogs Make Great Exercise Partners

Discussion about this post

Youtube Channel

Currently Playing

Follow Our Page

Popular Post

    About Us

    Email Us :
    [email protected]

    Follow Us

    Category

    • APPS
    • BEAUTY
    • Behavior
    • Boxer
    • Bulldog
    • Business
    • Culture
    • Entertainment
    • FAMILY
    • Fashion
    • GAMES
    • GENERAL
    • German Shepherd
    • Golden Retriever
    • HEALTH
    • Home improvement
    • Labrador Retriever
    • Lifestyle
    • NEWS
    • Research
    • Rottweiler
    • Sports
    • Tech
    • Tips
    • Training
    • Uncategorized
    • Wellness

    Recent News

    How to Buy Bitgert (BRISE) Safely: A Step-by-Step Guide

    How to Buy Bitgert (BRISE) Safely: A Step-by-Step Guide

    September 1, 2023

    Free Microsoft FrontPage Alternative For Mac OS

    August 29, 2023

    © Copyright 2022 - Market News 360. All Rights Reserved..

    No Result
    View All Result
    • About
    • Advertise
    • Privacy & Policy
    • Contact

    © Copyright 2022 - Market News 360. All Rights Reserved..

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In