Pakistani Rupee declines to low, economy in trouble

Islamabad, Dec 13: The Pakistan economy has become a turmoil. Pakistan's rupee weakened to a record low Tuesday as the central bank had allowed devaluating its currency.

The rupee dropped 1.9 percent to 109.5 per dollar in Karachi. Currently, the nation’s economy is in a stressed situation because of widening deficits and declining foreign-exchange reserves.

The country's current account deficit has continued to worsen after the ouster of Former Pakistan Prime Minister Nawaz Sharif. The country's exports have been declined and the import payments have mounted because of ongoing CPEC project.

In past three days, Pakistan currency has fallen to about Rs108 per dollar and many people fear that the rupee might still be weakened in coming days.