Pak Rupee witnessed further devaluation – Alfalah Securities Limited

Karachi, June 28, 2012 (PPI-OT): The Pak Rupee slid further to PkR 94.59 per US dollar as compared to PkR 94.53 a day before.

According to Alfalah Securities Limited, the currency has been witnessing a persistent decline due to high import bill payments and repayments of debt obligation. The exports have failed to pick up momentum despite steep devaluation of Pak Rupee due to unfavorable environment for production contributed by worsening law and order situation, continued power outages, and intense global competition. The rupee devaluation is likely to continue unless strong policy reforms are administered to boost economic growth and contain internal and external deficits.

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