Rupee slipped 27 percent against Dollar in 2018

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From Business Correspondent

KARACHI: Historical down fall of rupee was witnessed in year 2018, on January dollar was trading at Rs110 level but in the end of the year it touched Rs140.

The declining trend in rupee cost Rs2700 billion rupee extra debt burden on the country.

“Current account deficit depleting foreign exchange reserves that’s the reason why rupee is in pressure, Pakistan need to arrange money to finance this,” said Samiullah Tariq Head of Research Arif Habib Ltd.

Increase in Dollar price fueled all imported commodities price like edible oil, pulses, mobile phones, motorcycles, cars, petroleum products ext.

Experts say in this situation government has focus on export oriented sector and should also facilitate domestic industry for increase their productivity. This can stabilize rupee in long run.

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