Intraday Report: PKR plunges amidst Imran Khan's arrest turmoil

MG News | May 10, 2023 at 10:52 AM GMT+05:00

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May 10, 2023 (MLN): The miserable Pakistani rupee (PKR) has lost its ground further by over one rupee against the mighty US dollar during intraday trade mainly due to a surge in political temperature.

The dollar was being quoted at 285.46/286.96 (10:52 PST) when compared to the previous day’s close of 284.84 against the greenback.

The currency has already been in a mess due to weak macros and delay in IMF's tranche. Now, the arrest of Chairman PTI Imran Khan has added more fuel to the fire.

With regards to the outlook of PKR, the analyst fraternity is of the view that political stability is the major requirement to restore economic stability which ultimately supports the local unity to get stabilized.

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