LAHORE: The Mighty US dollar to hit Rs 180 mark against Pakistani Rupee,Media Report has revealed citing currency analysts.
The Pakistani Rupee (PKR) has fell to all-time low of Rs160.48/Rs160.73against US Dollar (USD), an increase of Rs2.19, 3.45 per cent down, fromits last close.
According to the data available at *Mettis Global,* exchange deals havebeen reported at Rs160.48/Rs160.73 per dollar at the time of filing of thisreport.
Meanwhile, some media outlets are reporting the dollar-rupee parity atRs161.50 with an increase of Rs3.80.
Ibrahim Moosa for Mettis Global told *Profit, *that it is expected that therupee will settle at Rs160 for the month of June.
According to the available data, during the month of June, the Pakistanirupee depreciated by 8.15 per cent having closed the prior month atRs147.92 against the mighty dollar.
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It is pertinent to mention that during Pakistan Tehreek-e-Insaf’s (PTI)10-month rein the Pakistani rupee has fallen 29.71 per cent, from Rs123.35on August 18, 2018, the day Imran Khan was sworn in as the 22nd PrimeMinister of Pakistan, to Rs160 today, marking the highest decline in such ashort period of time in the history of Pakistan.
Bearing in mind the freshly agreed deal with the International Monetaryfund (IMF), further depreciation was expected in the markets as it is acondition for the agreement.
Pak Kuwait Investment Co AVP Research Adnan Sheikh while talking to*Profit* aboutrupee devaluation said, “The rupee is likely to fall to Rs175-Rs180 levelsby the end of this year”.
