Pakistani Rupee Sole Currency Declining vs US Dollar?

In the past few months, the rupee’s fall has worsened, breaking all previous records. There are many reasons for this. Even worse, the government had been telling the market that the staff-level agreement with the International Monetary Fund (IMF) would keep the country afloat for the rest of the fiscal year.

However, the currency movement did not match what the government had expected. Restarted The $6.5 billion IMF program at the end of August. It was stopped in February 2022 when the previous PTI-led government gave fuel and electricity subsidies without enough money to pay for them.

Since then, Pakistan’s currency has been under pressure. The economists thought that the exchange rate between the rupee and the dollar would improve after restarting the IMF program, but the recent floods hurt the economy.

Countries like Pakistan can’t imagine their economies without dollars. Still, things are moving quickly in that direction, and policymakers don’t seem to be able to do anything about it, even though they are getting money from friendly countries.

But Pakistan is not the only country with a currency that is getting weaker, which is a scary situation. Several other countries, called “emerging markets,” also have weak currencies, making their economies unstable and nervous investors.

Topline Securities put together information about some countries in the region. Let’s look at some of the top countries in the area and how much value their currencies have lost since 2022.