Pakistani Rupee Could Drop to Rs. 340 Against US Dollar by 2024
In the upcoming months, analysts anticipate a decline in the value of the Pakistani Rupee (PKR) relative to the US Dollar. The PKR is expected to depreciate against the USD to 293.52 by the end of September 2023 and maybe even lower at 317.29 by June 2024, according to Trading Economics.
The PKR is expected to reach 325 versus the USD by the end of the fiscal year, according to the Ministry of Energy’s Power Division. According to a more dire prediction from Bank of America (BoFA) Securities, the rupee might depreciate by as much as 340 percent versus the dollar by June 2024.
Read More: Massive Change in Pakistani Rupee Against Dirham This Month
This depreciation is a result of several factors, including debt, inflation, and high policy rates. BoFA predicts that Pakistan’s economy would expand by only 2.5% this year, which is less than the 3.5% that the government had hoped for for FY24.
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