Dollar hits record Rs211 as IMF deal delay weighs heavy on rupee

[Dalit]

The US dollar continued to set new records on Tuesday as it rose to Rs211 against the local currency during early morning trade in the interbank market.

According to the Forex Association of Pakistan (FAP), the rupee depreciated by Re1 to reach an all-time low of Rs211 against the dollar from Monday's close of Rs209.96. Yesterday, the greenback appreciated by a sharp Rs1.21 — a trend persisting for over a week now.

According to Mettis Global — a web-based financial data and analytics portal — the rupee has incurred a colossal loss of Rs6.4 during five consecutive sessions last week.

Komal Mansoor, head of research at Tresmark, told Dawn.com that it seemed as if the country was now completely relying on an IMF bailout.

"There is some support for the rupee around the current 211 level, but we see a gradual depreciation of rupee on a daily basis till such time that the IMF staff-level agreement is signed," she said.

Dollar hits record Rs212 as IMF deal delay weighs heavy on rupee

Analyst says Pakistan now "completely relying" on the IMF bailout programme.

www.dawn.com

Is IMF going to buckle under US pressure?

 

[maithil]

Target to 230 lag raha hai..

https://twitter.com/x/status/1539106838817427456

 

[Areesh]

Well anyways retired moderator of PDF is happy and that's what matters

 

[SoulSpokesman]

@Areesh

Areeshbhai,

Well anyways retired moderator of PDF is happy

Who is this Retired Moderator that you keep referring to?

Regards

 

[Dalit]

LOL Dawn had to change the headline:

Dollar hits record Rs212 as IMF deal delay weighs heavy on rupee​

Just minutes after publishing the article the rupee had devalued by one whole rupee. Holy smokes.

 

[Enigma SIG]

Nawaz and Handlers after nuking Pakistan's economy:

 

[Enigma SIG]

LOL Dawn had to change the headline:

Dollar hits record Rs212 as IMF deal delay weighs heavy on rupee​

Just minutes after publishing the article the rupee had devalued by one whole rupee. Holy smokes.

Going an average of 3-4 PKR down per day.

Shehbaz Speed

Shehbaz teri parwaz se jalta hai zamana

Well anyways retired moderator of PDF is happy and that's what matters

Active part of Shehbaz SM Team. Heavy payroll.

 

[Areesh]

@Areesh

Areeshbhai,

Well anyways retired moderator of PDF is happy

Who is this Retired Moderator that you keep referring to?

Regards

It is strange that you don't know this retired mod

Everyone knows him here

 

[jamahir]

@Areesh

Areeshbhai,

Well anyways retired moderator of PDF is happy

Who is this Retired Moderator that you keep referring to?

Regards

He means Chak Bamu I think.

 

[RIP Pak LAW]

Economy in tails spin . IK warned everyone for this misadventure. This is going into history books.

 

[SD 10]

Well anyways retired moderator of PDF is happy and that's what matters

he is hiding in his cave these days!

@Areesh

Areeshbhai,

Well anyways retired moderator of PDF is happy

Who is this Retired Moderator that you keep referring to?

Regards

one who is in my ignore list

 

[Areesh]

he is hiding in his cave these days!

Sharam jaag gayi shaid

 

[SoulSpokesman]

@Areesh @jamahir

Thanks. @Chak Bamu sb is a very decent and knowledgeable interactor, irrespective of whether we agree with him or not.

Regards

 

[KediKesenFare3]

The government is expecting skyrocketing export figures in the coming months which will stabilize the currency. The plan is to gain momentum and turn Pakistan into an export hub with huge manufacturing foundation.

 

[Enigma SIG]

The government is expecting skyrocketing export figures in the coming months which will stabilize the currency. The plan is to gain momentum and turn Pakistan into an export hub with huge manufacturing foundation.

The only thing gaining momentum with huge foundation is the verbal abuse of the common man directed at this imported government.