NATIONAL. ... Pakistan did not let the rupee depreciate in ⦠Reaching at the historic level of Rupees 128.75 per dollar this week, Pakistani rupee has fallen down to almost 21% relative to the US Dollar, from December 8 ⦠We expect further PKR depreciation following the government decision to approach the IMF for a bailout, the report states. The Rupee expected to further depreciate around 12 percent by the end of the next fiscal year of 2019. If they let it float it would have depreciated and appreciated gradually as per market forces. The sudden plunges in the value of the rupee cause panic, further compromising the gains. ISLAMABAD: Clarifying the statement attributed to the State Bank of Pakistan governor, Minister of State for Revenue Hammad Azhar said on Friday that the Pakistani rupee would not depreciate further. The statement further said that âthe ... IMFâs post programme report released last week welcomed the central bankâs decision to permit Pakistani rupee to depreciate ⦠USD-PKR was adjusted higher to 133.64 on 9 October in the interbank market, roughly 7.5% ⦠The rupee further lost its value by 64 paisa against the US dollar and hit Rs160.50 in the interbank market at the early trade hours on Tuesday. Mangala warns of further depreciation of rupee. Moody's points out that around one-third of Pakistan's government debt is denominated in foreign currency, and further rupee depreciation would increase the country's debt burden, which was equivalent to 68% of GDP at the ⦠These are fruits of the government’s policy of maintaining a tight leash on the exchange rate. The Rupee has already lost ten percent (10%) value against dollar in the first three months of this year. The dollar continued to depreciate today. Pakistani Rupee will continue the downward trend not only during 2018 but also in 2019. This is the fifth round of rupee devaluations since December last year. Let's analyse the key factors that can contribute to this possible scenario - ZAWYA MENA Edition Karachi: The Pakistani Rupee has depreciated to PKR 131 for USD 1 as per the open market interbank rate, as per a news report. It is expected that Pakistani Rupee will further depreciate by 5% against the dollar in 2018âs second half. The government has devalued the currency from PKR 105 against the dollar on December 8, 2017, to PKR 135 on October 09, 2018, making it 27 per cent weaker. âThe recent depreciation in the rupee against the U.S. dollar has mainly been due to the coronavirus fears and the foreign investor sell-off...Given these fears the exchange rate could depreciate further ⦠Pressure mounts as foreigners pull out investment amid virus fears The Pakistan stock market reacted strongly to the governmentâs decision to opt for an IMF programme for stabilisation and economic recovery, with the benchmark KSE 100 index recovering 606 points on Tuesday. The market closed nearly 300 points up on Wednesday as the investors’ concerns over the falling foreign exchange reserves were put to rest by the government’s announcement to approach IFM for a bailout to shore up the falling reserves. On Tuesday the rupee saw its largest single-day drop against the dollar in over a decade. Web Desk. Rupee drops further to 158.42 against dollar. After logging in you can close it and return to this page. Moreover, going ahead into the election year, both foreign institutional investors (FIIs) and foreign direct investors (FDIs) would try to avoid the Indian markets as ⦠The dollar fell 21 rupee on the interbank market. The rupee strengthened further against the dollar in the country, while the price of gold declined sharply and the Pakistan stock market remained positive. The rupee has been declining for the past few weeks now because of rising current account deficit. Please log in again. Since 12 December 2017, the rupee has remained broadly unchanged at these weaker levels. The nine percent depreciation in the Pakistani rupee actually means nine percent loss in the total economy of the ... pave the way for capital flight and plunge the economy into the further chaos. 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