The sliding rupee gained a little value versus dollar in the currency market after the governor of State Bank of Pakistan made a statement that funds will arrive shortly from international lenders which will provide some relief to the falling value of rupee. This may be short-lived as the main issue which the country is faced with at present is the balance of payment crisis which is fast depleting the foreign exchange reserves each day.
If the present situation continued without any solid steps from the central bank, I think that the rupee will hit the all time low in the coming days. In just a few months it has shed more than 15 rupees against dollar.
The sliding rupee gained a little value versus dollar in the currency market after the governor of State Bank of Pakistan made a statement that funds will arrive shortly from international lenders which will provide some relief to the falling value of rupee. This may be short-lived as the main issue which the country is faced with at present is the balance of payment crisis which is fast depleting the foreign exchange reserves each day.
If the present situation continued without any solid steps from the central bank, I think that the rupee will hit the all time low in the coming days. In just a few months it has shed more than 15 rupees against dollar.
Related
