Tuesday, July 16, 2024

Experts Predict Pakistani Rupee to Reach Rs. 265-270 against US Dollar by the End of 2023

Due to political uncertainty and temporary suspensions of the International Monetary Fund (IMF) loan program, the Pakistani rupee has continued to fall against the US dollar into the year 2022. On Friday, the rupee fell 22% year-over-year to Rs226.43 against the dollar in the interbank market.

However, it is predicted that 2023 will be another depressing year for the native currency. By June 30, 2023, some local research firms predict that the value of the rupee will fall to between Rs250 and Rs270 per dollar.

Despite the IMF restarting its lending program for Pakistan sometime in February 2023, others forecast the rupee falling to Rs265-270 by December 31, 2023.

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