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Fourth Rupee Devaluation In One Year Shows Economic Risk Before July 25 Polls

The devaluation shows signs of vulnerability in Pakistan’s $300 billion economy; widening trade deficit, alarmingly low foreign exchange reserves, hike in oil prices, could further aggravate country’s macroeconomic fundamentals JUN 12, 2018 — Rupee slumped 3.8 percent against the dollar on Monday before slightly recovering in what appeared to be the fourth currency devaluation in one year by the central bank amid fears of a balance of payments crisis and speculations remittances from overseas Pakistanis may not meet the target. The State Bank of Pakistan said in a press release,Read More