The Pakistani rupee plunged to a record low of above 200 per USD, amid an emergency economic situation in the country and uncertainty over IMF talks that started in Doha on Wednesday. Also, rising oil prices have weighed on import bills, with April bills rising by 72 per cent, leaving no room for the government to improve its external balances while the foreign exchange reserves of the central bank have touched $10.3 billion, the lowest since June 2020. Pakistan has already asked the IMF to increase the size and duration of its $6 billion bailout programme agreed in 2019, but the success of the program is dependent much on compliance of a list of demands put forth by the IMF, which includes withdrawal of fuel subsidy and imposition of additional taxation measures.
.
Historically, the Pakistan Rupee reached an all time high of 200.47 in May of 2022. Pakistan Rupee - data, forecasts, historical chart - was last updated on May of 2022.
The Pakistan Rupee is expected to trade at 193.64 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 196.32 in 12 months time.