It was certain for all the business community they had already predicted ‘The Great Fall’ of Pakistani Rupee. PKK sunk Rs.144 again US Dollar to a record low after what appeared to be the sixth devaluation by the State Bank of Pakistan.
Just a day after Pakistan Tehreek-e-Insaf (PTI) Government celebrated 100-days in Office and Prime Minister Imran Khan admits that Rupee devalued against US Dollar as the country struggle with the acute balance of payment crisis.
The State Bank of Pakistan has indirectly devalued the currency as the state failed to managed the balance of payment deficit.
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Inter Bank Market US Dollar soars Rs.144 against Pakistani Rupee as business community expect it to hit Rs.150 by January 2019 according to experts State Bank of Pakistan is moving exactly on IMF’s instructions.
The Pakistani Rupee hits all the time low today which directly and indirectly impacts the economy, trade and the overall situation in Pakistan.
Yesterday, 100-days celebration PTI appeared very confident about tackling the balance of payment issues. However, Business community feared Pakistani Rupee to sunk even more by January next year.
Be prepared for the price hike in Automobiles, Bikes, Branded Clothing, Smartphones and Computers expecting price hike update within the first week of December.