July 22, 2022
03:34
03:34
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Pakistani rupee falls 7.6% against US dollar in two weeks
Spiraling global energy prices and a political crisis at home are taking a toll on Pakistan's economy. Hoping to shield consumers from high fuel prices, the government subsidized petrol and diesel for months. But that's depleted state coffers, and the domestic currency is quickly losing value against the US dollar and other major currencies.
Khurram Schehzad is the founder of the start-up accelerator, Alpha Beta Core. He says while Pakistan has avoided defaulting on its foreign debt, a lot more needs to be done stabilize the local currency and economy.
#Pakistan #PakistanEconomy #PakistaniRupee
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