The Pakistani currency is expected to have continuous fall against the US dollar due to high inflation in the nation. The rupee remained unstable due to wide trade deficit caused by global oil prices imports. Depreciated by 0.69% during the week, the Pakistani rupee closed at low record of 177.71 against the dollar, on December 10. Besides, the local unit lost Rs 25.72 against USD in the past seven months.
The new export-import data released by the commerce ministry on September 14 showed that exports increased by 45.76% from USD 22.83 to 33.28 billion in August. The cumulative figure of exports between April-August 2021 also expanded by 67.33% from the previous year's USD 98.06 billion to USD 164.10 billion. However, imports rose by 51.72% to USD 47.09 billion in August, resulting in a trade deficit of USD 13.81 billion.
Courtesy: Business Standard
Making huge increase the Indian exports for April month clocked at $30.21 billion surpassing the previous year's tally of $10.17 billion. Experts attributed strong demand and seamless economic activity behind the surge. However, the trade deficit stood at $15.24 billion as imports in the fiscal month increased by 165.99% year-on-year reaching $45.45 billion. Notably, while the exports dropped by 12.3% from March, the inbound shipment surged… read-more
Courtesy: The Logical Indian