A new permanent record against the US dollar was achieved by the Pakistani rupee on Wednesday, rising to Rs202 for the very first time in the market interbank.
As the evicted government of Pakistan Tehreek-e-Insaf (PTI) initiated its long march coming towards Islamabad, there was a collapse in the financial markets of the country.
This was notwithstanding the crackdown of the Coalition government on the members of the party and leaders in an effort to secure the members from moving ahead to Islamabad.
Before the time of noon, the rupee’s value lowered down Rs1.08 to a remarkable low of Rs202.49 against the greenback, nearly dropping to Rs16 in the past 14 working days.
At Noon, the Pakistan Stock Exchange fell 1.22 percent (or 513 points) to a one-year low of 41,438 points. Political upheaval in Pakistan, according to experts, was a sign of economic instability. Â
According to the statement of Bloomberg, Pakistan was soon to be bankrupt as the political problems of the country intensified.
Meanwhile, in the Doha conversations, the government was looking forward to seeing the programme of $6 billion credit being reinstated.
The report was being disclosed ahead of the likely never-ending talks between the government and the International Monetary Fund (IMF). Â
