Pakilm

 Pakistani Rupee (PKR) fell by Rs. 16.79, or 36%, against the Saudi Riyal in last seven months from January to September 2022. According to the State Bank of Pakistan's (SBP) weighted average customer exchange rates, the selling rate by exchange companies opened at Rs47.08 to the Saudi Riyal on January 2022 and closed at Rs. 58.10 on September 2022. However the new month may bring a slight fluctuation in SAR to PKR exchange rate. As per the economist the downgrading of Pakistan's rating by three major credit rating agencies has harmed the country's prospects. In addition, the political tension exacerbated the problem. Furthermore, the rupee fell against the Saudi riyal due to currency exchange for pilgrimage to Saudi Arabia.  The rupee also fell against the Saudi Riyal as a result of the local currency's huge depreciation versus the US dollar following the country's foreign exchange reserves shortage. Saudi Arabian Riyal SAR is the official currency of Saudi Arabia....

  The rise in the PKR against the USD is being driven by growing optimism about the resumption of a suspended International Monetary Fund (IMF) bailout package later this month, as the government has completed the requirements for the release of $1.17 billion in funds. Changes in the inflation rate, interest rate, GDP, and current account have an impact on Pakistan's foreign exchange rate. GDP causes more variation in the exchange rate than other variables, while the current account causes the least variation in the exchange rate. However, the current positive fluctuation in PKR against the Dollar is caused by many factors that include the interest of international investments in Pakistan, IMF deals, and the import ratio.The announcement that the United Arab Emirates (UAE) intends to invest $1 billion in Pakistani enterprises is the most recent development that has contributed to the rupee's appreciation. The dollar liquidity crisis appears to be easing as imports fell in July,...