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i NEWS BUSINESS

Pakistani rupee soft again as US dollar surges in interbank marketBreaking

February 02, 2023

Pakistani rupee has turned into soft currency against the powerful US dollar as it again came under pressure in interbank trading on Thursday. According to the information provided by the forex dealers, the local currency slumped by another Rs1.17 against the greenback in the interbank trading and was currently being traded at Rs270. On Wednesday, the Pakistani rupee lost its value by 0.35% against the US dollar and ended the day at Rs268.83 down by 94 paisas.

Ratings agency Fitch Solutions has maintained that Pakistani rupee is expected to weaken further, particularly with the country’s balance of payments position that is likely to remain weak for several more months. The ratings agency noted that a continued weakening in the rupee will have broader economic implications. In the near term, it could exacerbate imported inflationary pressure and may eventually result in steeper policy rate hikes from the State Bank of Pakistan.

Meanwhile, in a key development, the International Monetary Fund (IMF) has asked Pakistan to withdraw untargeted subsidies and reduce circular debt, as well as meet petroleum levy and Federal Board of Revenue (FBR) tax collection targets. The Fund’s mission is currently in Pakistan for technical and policy-level discussions to revive the $7 billion Extended Fund Facility (EFF).

Credit : Independent News Pakistan-INP

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        • 23. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 24. /vendor/laravel/framework/src/Illuminate/View/View.php:143
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        Metadata
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        Backtrace
        • 19. view::cd92d40aa993ff07e27a4084503982ba68c67898:61
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        • 22. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 23. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 24. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 15. /app/Helpers/helpers.php:19
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 15. /app/Helpers/helpers.php:20
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 15. /app/Helpers/helpers.php:21
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 15. /app/Helpers/helpers.php:31
        • 18. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 19. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 20. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 21. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:45
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 20. /app/Helpers/helpers.php:48
        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
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        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 7 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 23. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 52 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 8 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 7 limit 1190μs/app/Helpers/helpers.php:45staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:45staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 63 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 65 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
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        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 66 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `sub_categories` where `sub_categories`.`id` = 67 limit 1180μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 24. /vendor/facade/ignition/src/Views/Engines/CompilerEngine.php:36
        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
        • 26. /vendor/laravel/framework/src/Illuminate/View/View.php:126
      • select * from `categories` where `categories`.`id` = 9 limit 1190μs/app/Helpers/helpers.php:48staginginpnet_staging
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        • 25. /vendor/laravel/framework/src/Illuminate/View/View.php:143
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        • 17. /vendor/laravel/framework/src/Illuminate/View/Engines/CompilerEngine.php:59
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