{"id":16129,"date":"2022-07-25T08:45:30","date_gmt":"2022-07-25T08:45:30","guid":{"rendered":"https:\/\/undergroundnews.co.uk\/?p=16129"},"modified":"2022-07-25T08:45:32","modified_gmt":"2022-07-25T08:45:32","slug":"rupee-hits-another-historic-low-of-230-against-us-dollar","status":"publish","type":"post","link":"https:\/\/undergroundnews.co.uk\/?p=16129&lang=en","title":{"rendered":"Rupee hits another historic low of 230 against US dollar"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Mishaal Arshad C.M Underground News<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Pakistani rupee continues to slide against US dollar.<\/strong><\/li><li><strong>\u201cPolitical uncertainty is weakening market sentiment,\u201d says analyst.<\/strong><\/li><li><strong>Fears have risen about Pakistan\u2019s stuttering economy.<\/strong><\/li><\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-cnvs-separator-id-1658738489742\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">KARACHI: The Pakistani rupee hit an all-time low against the US dollar Monday during intraday trade in the interbank market, Geo News reported, as the political crisis in the country deepens.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The rupee slumped to 230 during intraday trade, as compared to its rate of 228.37, according to the data from the State Bank of Pakistan (SBP).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fears have risen about Pakistan\u2019s stuttering economy as its currency fell nearly 8% against the US dollar in the last trading week, while the country\u2019s forex reserves stand below $10 billion with inflation at the highest in more than a decade.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a recent presentation to international investors, the acting governor of Pakistan\u2019s central bank, Murtaza Syed, said: \u201cMarkets are responding to these shocks in an unfairly broad-brush way, without paying enough attention to Pakistan\u2019s relative strengths.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a statement to<em>\u00a0Geo.tv,<\/em>\u00a0Muhammad Saad Ali, a capital market expert, said that the rise in political uncertainty \u2014 of whether the present government will remain in office long enough to stabilise the economy and the continued confusion around who governs the Punjab province \u2014 is causing the rupee to slip.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cNote that BoP (balance of payments) pressures on the currency have eased, as per the SBP, which asserts that Pakistan has enough capital commitments for the next 12 mths to take care of its dollar outflows,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI reiterate political uncertainty is weakening market sentiment and leading to more PKR depreciation,\u201d Ali added.<\/p>\n","protected":false},"excerpt":{"rendered":"Mishaal Arshad C.M Underground News Pakistani rupee continues to slide against US dollar. \u201cPolitical uncertainty is weakening market&hellip;\n","protected":false},"author":3,"featured_media":16132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[50,76,71],"tags":[],"class_list":["post-16129","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-important-news","category-latest-news","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/16129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16129"}],"version-history":[{"count":1,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/16129\/revisions"}],"predecessor-version":[{"id":16133,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/16129\/revisions\/16133"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/media\/16132"}],"wp:attachment":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}