HomeBusiness NewsRupee continues to decline at 204 against USD

Rupee continues to decline at 204 against USD

Pakistani rupee has reached at Rs204.10 against the US on Friday as per the State Bank of Pakistan (SBP). Additionally, Pakistan Stock Exchange (PSX) has also reached the new limits at 41,231 points after losing 784 points earlier. In recent times, Pakistan Stock Exchange (PSX) became the third- most highly affected market in Asia. Ironically, winning the title of Asias best-performing stock market in August 2020.

The change in the stock market and exchange rate came after Finance Minister, Miftah Ismail discussed the bailout package by the International Monetary Fund (IMF). He said the money lending institutions have some disagreement on the federal budget 2022- 23 that was presented in the National Assembly on Friday. However, he said that the IMF program was more likely to commence after the budget.  

The countrys unpredictable economic position has also affected foreign exchange reserves. To revive economical position, an increase in reserves is necessary.

Syeda Qandeel Zehra
Syeda Qandeel Zehrahttps://hamariweb.com/
Syeda Qandeel Zehra is a senior content writer with writing expertise in different niches. She is an MBA graduate by qualification and loves to write about diverse topics. Zehra has 3 years of writing experience and currently employed at hamariweb.com as a content writer.

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