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USD/PKR Forecast, Prediction and Analysis Today

USD/PKR refers to the US Dollar/ Pakistani rupee currency pair. PKR is the national currency of Pakistan....
In 1947, when Pakistan gained independence from Britain and separated from India, the PKR was introduced. To begin with, it was pegged to the British pound, though in 1982 it transitioned to a managed float policy, enabling the central bank of Pakistan to intervene to keep the price within set parameters. Ever since the 2008 financial crisis, the Pakistani rupee has depreciated against the US dollar. This has been worsened by Pakistan’s sizable current account deficit, crumbling energy infrastructure and its low foreign exchange reserves. Moreover, it has no strong correlations with other currency or commodity markets. Due to the fragility of the Pakistani economy, USD/PKR is an exotic currency pair that is not used for many global transactions and has a low trading volume. However, the PKR has been upgraded to emerging market currency status, due to its growing working population and strengthening economic ties with China. This has borne fruit with CPEC, the China-Pakistan Economic Corridor of oil and gas pipelines, rail, and road infrastructure as well as with the One Belt One Road initiative, focused on economic development and connectivity across Asia, Africa, and Europe.

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