Fitch Ratings has said that in 2022, the dollar will reach 180 rupees.
Fitch Ratings has revised its forecast for the Pakistani rupee this year and in the coming years due to various factors, estimating an average rate of 180 in 2022 as against the previous forecast of 165.
According to a report by the British News Agency, the New York-based agency, one of the three largest agencies in the world, predicts that the average rupee this year will now be Rs 164 against the US dollar, up from Rs 158 earlier. Was
“Our expectation that the currency will weaken further is based on Pakistan’s deteriorating trade conditions, tough US monetary policy, the flow of the US dollar out of Pakistan and into Afghanistan,” Fitch said.
On the other hand, analysts say that the country’s current account deficit has affected the rupee’s continued demand for the dollar, while the Afghan situation is under increasing pressure.