April 1, 2022
1 min read

Pak Rupee in free fall amid political uncertainty

In March, the rupee has depreciated by 3.38 per cent (or Rs 6.07) against the US currency…reports Asian Lite News

There seems to be no respite for the falling Pakistani currency as the rupee continued to decline against the US dollar, amid the ongoing political uncertainty and delays in economic decisions, especially the lingering talks with the International Monetary Fund (IMF), Geo News reported.

The currency surpassed the Rs 183-mark for the first time in the history of Pakistan, shedding over Rs 25 since the start of the ongoing fiscal (2021-22).

The rupee closed at Rs 183.48 against the US dollar in the inter-bank market on Thursday.

In March, the rupee has depreciated by 3.38 per cent (or Rs 6.07) against the US currency.

Meanwhile, as the Opposition’s number game gets stronger, Prime Minister Imran Khan has offered to dissolve the assembly if the no-confidence motion against him is withdrawn, Geo News reported.

According to the sources, an “important personality” has given a message of Imran Khan to the Leader of the Opposition in the National Assembly, Shahbaz Sharif.

This was revealed during the meeting of the Opposition leaders on Thursday ahead of the crucial National Assembly session for the debate on the no-confidence motion.

It was shared that the premier has asked for a “safe passage” amid a deepening political crisis.

Sources further added that Imran Khan has said that if the Opposition doesn’t agree to his suggestion, he is ready to face any situation, Geo News reported.

ALSO READ-Motorola is now the third-largest smartphone brand in US

Previous Story

Russia bans top EU officials

Next Story

Wipro launches 100 cr manufacturing facility under PLI scheme

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop