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Imran Khan raises alarm over rupee, inventory market’s slide

ISLAMABAD: Former prime minister and PTI Chairman Imran Khan on Friday raised alarm over the declining worth of the rupee and inventory market and hike in inflation and rates of interest and mentioned that it displays the bottom ever confidence in ‘imported’ authorities.   

Taking to Twitter to share financial woes confronted by the nation after the incumbent authorities took cost, Imran Khan mentioned that the rupee has hit an all-time low at Rs193 from Rs178 on March eight whereas rates of interest at 15 % are the best since 1998.

“Stock market down 3,000 pts or 6.4%; stock market lost Rs604 billion capitalisation; Inflation 13.4% highest since Jan 2020,” he mentioned whereas terming them as indicators of insecurity within the authorities.

Imran Khan mentioned that the market awaiting coverage and motion, which the ‘imported government’ has failed to supply. “Both myself [and] Shaukat Tareen had warned the “Neutrals” that if conspiracy succeeded our fragile economic recovery would go into a tailspin. That is what has now happened.”

It is pertinent to say right here that the Pakistani rupee continued to lose floor towards the US greenback within the interbank market on Friday, because the buck reached an all-time excessive of Rs192.86.

According to the Forex Association of Pakistan, the US greenback breached the 192-mark on the day’s begin and soared to Rs192.86 round 11:50am. The worth of the buck surged byRs1.09 in early buying and selling.

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