[Pakistani Rupee To USD] How High Will Pakistani Rupee Appreciate In Exchange With US Dollars?

In the first quarter of this year, they’re below last year’s level. So PTI has not been in a position to boost export even after the 40% devaluation. Our imports have been curtailed because of devaluation, a historic decrease in world oil prices, a slowing down of Pakistan’s economy, and gains of custom duties. The precipitous decline in imports has changed into our existing account to an excess. Plus happily, during the previous five weeks, our remittances have also considerably increased. This is expected to continue at least till covid-related travel limitations wane.

What are the key factors which can play a vital role to improve the economy of Pakistan?

The national debt of the last 70 years, if say USD100 has increased to USD151/160 in the last three and half years and had rapidly increased. Hafeez Sheikh said he saw bright economic indicators from four corners he needs to have his eyes checked and all the two main crops wheat and cotton are on a sharp downward spiral. Combined with Shaukat Tareen they will bring the Pakistan economy to a grinding halt and then will drumbeat that they have reduced the C/A deficit.

This current account surplus is forecast to become a deficit once the market picks up and imports rise. This will further pressure our foreign exchange reserves. Our reserves right now are around $12 billion, of which $4.9 billion are due to short-term swaps, as well as another $7 billion is currently in dollar deposits from friendly countries. This is quite a precarious position and demands that we restart our IMF program The IMF is rumored to be requesting two things: a reduction in the huge and burgeoning budget deficit and also power-sector curved debt.

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