Islamabad July 29 2022: Pakistan Rupee appreciate by 57 paisa or 0.24 percent to end today’s trading at 239.37 as Pakistan Tehreek-e-Insaf (PTI) Chairman and former premier Imran Khan has agreed to sign the “Charter of Economy” (CoE) to take the country out of the current financial crisis and ending of uncertainty for change in power at center after acceptance of PTI National Assembly members resignation.
However, the rupee has lost 14.4 percent in a month on political unease amid increasing import payments due to higher commodity prices.
The rupee has lost 26.3 percent since January 2022 and 36.4 percent since its high on 14th May 2021.
Foreign exchange reserves held by the State Bank of Pakistan were decreased by USD 1,241 million during 22 days of July on higher debt repayments, revealed on Thursday by State Bank of Pakistan.
“Pakistan imports at $3.76 billon as of July 25 and expects total shipments in the month at about $4.8 billion”, says Pakistan’s Finance Minister Miftah Ismail.
He expects July imports to be less than total exports and remittances in that month.
National Assembly Speaker Raja Pervaiz Ashraf on Thursday accepted the resignations of 11 Pakistan Tehreek-e-Insaf (PTI) members exactly 109 days after they resigned from their seats.
