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Amidst political crisis, Pakistani rupee reaches near 200 to historic low against dollar, know what is reason for the continuously falling rupee

Punjab Tribune Bureau | May 18, 2022 01:56 PM

ISLAMABAD: Against the dollar, the Indian rupee remained at a historically low level on Wednesday. When the market opened in the morning, the rupee fell by 6 paise and opened at Rs 77.57.

The Indian rupee is continuously falling against the dollar, but it is not that only India's currency is weakening.

India's neighboring country Pakistan's currency rupee is also bad in front of the dollar. Against the dollar, the Pakistani rupee can reach 200 rupees per dollar.

Pakistani journalist Cyril Almeida tweeted that 'Rupees 200 today or tomorrow...?'

On Tuesday, the price of Pakistani rupee went up to Rs 195.74 historically against the dollar.

Compared to the last financial year, the Pakistani rupee has depreciated by 24.24 percent against the dollar in this financial year and the rupee has been going down continuously for the last 13 months.

What is the reason for the continuously falling rupee?

Subsidies are being given on oil and electricity in Pakistan and analysts believe that till the government does not remove the subsidy, the Pakistani rupee will continue to fall.

On the other hand, it is being said that till the International Monetary Fund (IMF) does not release the next aid amount of $ 1 billion, the pressure on the rupee will remain.

According to the news agency AFP, Pakistan has been seeking international help for its rising national debt, rising inflation and falling rupee and this meeting is going to be held to issue a bailout package.

Pakistan's Finance Ministry has told that this talks are going to start in Qatar's capital Doha and it is expected to continue next week as well.

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