Civil Hospital staff nurses call off strike after assurance by Dy CM. Buddha Nullah rejuvenation work picks up pace. One-time settlement scheme gets meek response in Patiala.
Patiala: Covid warriors want their services continued. Patiala: Financial aid sanctioned to kids orphaned by Covid. Over 50 units of blood collected in Patiala. Pakistani rupee depreciates to all-time low at Rs Karachi, September 15 The Pakistani rupee fell by over Rs 1, depreciating to its lowest-ever value at Rs In comparison, the Indian rupee is trading at What do you think?
Share your feedback. Most Read 1. Don't Miss. Subscribe to News. THE recent exchange rate volatility, which saw the rupee drop to a multi-month low of The pc year-on-year surge in trade deficit in August to the highest-ever level of Rs4. Hence, we see many calling for an early upward adjustment in interest rates, measures to restrict luxury imports, market interventions to arrest further devaluation and steps to prevent the build-up of imported inflation and negative business sentiment.
The freeze on the IMF loan programme and the possible insecurity spillover from Afghanistan are also compounding economic uncertainties and keeping the rupee under pressure. Pressure has been accumulating since May when it became clear that the government wanted to ditch the harsh IMF policies in favour of rapid growth before the next election.
Sadly, the current growth spurt being touted is no different to the one under the previous PML-N set-up in that it is also being financed through expansive fiscal and monetary policies and short-term expensive borrowings without implementing productivity reforms. Expecting the painfully slow uptick in exports and remittances to save the growth momentum would be folly. Rupee depreciation Editorial Published September 7, Facebook Count. Honouring Exemplary Boards. Deep Dive Into Cryptocurrency.
ET Markets Conclave — Cryptocurrency. Reshape Tomorrow Tomorrow is different. Let's reshape it today. Corning Gorilla Glass TougherTogether. ET India Inc. ET Engage. ET Secure IT. Cryptocurrency By. Stocks Dons of Dalal Street. Live Blog. Stock Reports Plus. Candlestick Screener. Stock Screener. Meanwhile, SBP Governor Reza Baqir said some people suffer losses due to a rise in the exchange rate, but some also benefit from it.
The SBP governor was speaking at a press conference a day earlier, where he said that the devaluation of currency has helped overseas Pakistanis and their families as they are now sending back home more money to their loved ones than before.
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