Article Type

Article

Description

Pakistani media commentators and the society at large seem to be in a state of shock. The sharp and abrupt plummeting of rupee against US Dollar, 24 per cent inflation rate, depletion of foreign exchange reserves, an unanticipated large current account deficit, continuous spikes in policy rate with its attendant impact on Bank lending rates, the slowdown in approval of import remittances, the erosion in market capitalization of listed companies have combined and created a situation of panic. Jittery sentiments and uncertainty about the future course of action have brought in speculators in foreign currency market pushing up demand for Dollar beyond its real market determined value.

Publication Source

The News

Publication Date

8-5-2022

Pages

1-6

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