The Pakistani rupee is set to end the year as Asia’s worst-performing currency and the losses are seen extending into 2024. The currency has fallen about 20% against the dollar this year and analysts say its troubles are far from over. BMI expects the currency will fall to 350 rupees by the end of next year, while Karachi-based brokerage Topline Securities Ltd. sees it dropping to 324 rupees. It closed at 285.64 rupees on Monday. “This looks like a currency that is set to adjust downwards,” said John Ashbourne, global economist at BMI in London, a Fitch Solutions company, citing Pakistan’s high inflation and ... (full story)
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2023-11-28 07:59:00Z
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