The Pakistani Rupee seen a great decline in the inter bank trade as the Dollar rate in Pakistan reached all time high value.
USD to PKR ratio increases as Dollar rate in Pakistan jumped to Rs138 and Pakistani Rupee hit all time low. However, according to key economists, the Pakistani Rupee devaluation against the US Dollar is due to the expected IMF bailout.
Yesterday, the government announced that they decided to take loan from the International Monetary Fund (IMF). Traders revealed that the IMF bailout news and the fears of devaluation will increase the greenback’s demand from importers. In addition, the Pakistani Rupee is continuously showing the weakness.
On the other side, Pakistan Stock Exchange (PSX) has seen a positive trend. In Karachi Stock Exchange, KSE 100 index increased by 1,100 points today and broke the psychological barrier of 39,000 points. Yesterday, the KSE 100 index was dropped by the 1,300 points.