Karachi: The Pakistani Rupee has depreciated to PKR 131 for USD 1 as per the open market interbank rate, as per a news report. The rupee has been declining for the past few weeks now because of rising current account deficit. During the last seven months, the rupee has been devalued by over 20%, and is expected to go further down. It is expected that the country would have to seek assistance from the International Monetary Fund in correcting this deficit.
The next elected government would have to find ways of dealing with this rising deficit and a weakening rupee. Experts believe the costs associated with oil, LNG, cement, steel and various projects under the China Pakistan Economic Corridor would significantly rise.
