ISLAMABAD – The Pakistani rupee could slump to as low as Rs150 against theUS dollar in the coming weeks, Muhammad Sohail, an economic expert hasrevealed.
“There are slim chances of the dollar reducing by any significant amount.It is expected to hover between Rs140 and Rs150 in the coming weeks becausethe International Monetary Fund has signalled further devaluation in therupee as one of its bailout conditions,” the analyst noted.
Pakistan is an import-oriented economy and hence, the effects of thedevaluation will hit the public hard, he explained.
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“Inflation will increase, and so will gas and petrol prices. Transportfares will also increase as a result. If the government provides somerelief to the public by slashing taxes, that may help the common man.”
