Business

Political uncertainty surges dollar by Rs 5 in a month

KARACHI: The uncertain and chaotic political situation of the country along with hitting hit the administrative affairs of the state also affected the economy in shape of dollar’s appreciation against the rupee, ARY News reported.

The ongoing sit-ins in Islamabad led by Pakistan Tehreek-e-Insaf chairman Imran Khan and Pakistan Awami Tehreek’s Dr. Tahirul Qadri have taken its toll on the economy. Reduction in foreign reserves is also recorded due to the protests.

Dollar was recorded at Rs 98 in July and it reached Rs 103 by the end of August. Sources told that remittances by Pakistanis living abroad have also declined in the wake of political uncertainty, thus depreciating rupee against the dollar.

 

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