PKR loses over one rupee in early trade
MG News | May 09, 2022 at 10:07 AM GMT+05:00
May 09, 2022 (MLN): Pakistani rupee (PKR) has once again come under a strong spell of depreciation as the currency lost 1.27 rupees during early trade.
The dollar was quoted at 187.84/ 187.94 (10:06 PST) when compared to the previous close of 186.63.
Bleak macros along with delay in the IMF tranche have dragged PKR towards a bleak phase.
According to Asad Rizvi, the former Treasury Head at Chase Manhattan, “Widening of trade deficit to $39.26bn in 10MFY22 is caused by record-high imports that have surged to $65.49bn versus $44.73bn is not good news because oil prices are not easing.”
While drying up of remittances this week could delay PKR recovery, he added.
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| BITCOIN FUTURES | 77,710.00 | 77,785.00 76,105.00 | 1935.00 2.55% |
| BRENT CRUDE | 98.14 | 100.73 96.90 | -5.40 -5.22% |
| RICHARDS BAY COAL MONTHLY | 110.00 | 0.00 0.00 | -8.75 -7.37% |
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