Rupee hits all-time low at 168 94 tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
KARACHI: Economic recovery is expected to accelerate in the current fiscal year of 2021/22 as fiscal stimulus extended to businesses and households during coronavirus restrictions boosts confidence.
Exports climb to highest level in July
Rupee depreciation, opening of economies in West helped improve exports
KARACHI:
Pakistan posted the highest-ever exports for the month of July as shipments reached $2.35 billion, up 17.3%.
Taking to his official Twitter handle, Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood announced, “During the first month of financial year 2021-22, our exports grew at 17.3% to $2.35 billion as compared to $2 billion in July 2020.”
“These are the highest-ever exports for the month of July,” he added.
The recent rupee depreciation against the US dollar and opening of economies in the West helped improve exports in July 2021, said Topline Securities’ economist Atif Zafar while talking to The Express Tribune.
Rupee likely to weaken further
July 25, 2021
KARACHI: Rupee would likely continue to trade under pressure next week on account of high demand for hard currency and diminished supply, while US dollar appreciation against the basket of major currencies would also weigh down the local unit.
The rupee saw two sessions of volatility and plunges this week fuelled by higher imports, spike in international commodity prices, and deteriorating current account balance. Traders did not hold their breath ahead of a closely-watched monetary policy meeting scheduled by the State Bank next week.
Domestic currency fell by 0.52 percent to 162.32 versus the greenback in the interbank market.
Credit to private sector spikes 12% to Rs6 82tr tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.