As the Pakistani currency devalued, the Indian rupee gained with Rs. 3.41. Rupee has declined because of several reasons including political instability, a huge trade deficit, and rising inflation. Which resulted as a devaluation. However, rupee also lost against other currencies too for example Kuwaiti Dinar.
Recently, Pakistani rupee declined with Rs 19 against the US dollar due to assesment of central bank’s monetary policy and worries about a stalled IMF accord.
Ishaq Dar Finance Minister promised that a deal with IMF (International Monetary Fund) would reach by next week and rupee would gain with Rs6.63 against the dollar in the interbank market.
It’s critical to understand the several complex issues, including economic indicators, political stability, and global events, and can be subject to sudden changes.
