Time to remit? Pakistani rupee likely to hit 38 against dirham
(WorldNews Business)

The Pakistani rupee is projected to continue to weaken in the coming months and is likely to hit 38 against the UAE dirham, industry executives and analysts said. Rajiv Raipancholia, CEO of Orient Exchange, expects a further 10-15 per cent devaluation in the rupee during fiscal year 2018-19 as banks in Pakistan have borrowed US dollars from Chinese lenders to enable the country to repay IMF loan installments. He noted that the Fed interest rate hike is also affecting the flow of the dollar into Pakistan, like other Asian countries. High interest rates and inflation in Pakistan is also affecting the economy; hence, it is expected that the currency may touch 140 per dollar and 38.16 against...