The Pakistani rupee touched a record low of 240 per USD in July, before retreating slightly to 230 in early August, after the IMF said the country has met the final prerequisite for the release of $1.1 billion of bailout fund, which was an increase in the petroleum development levy. The rupee lost nearly 14% in July, booking its worst month since at least 1989, according to Bloomberg, and is likely to remain under heavy pressure, as the political turmoil continues and both the US dollar and commodities remain high, weighing on the country's reserves and threatening the external position and public financing conditions.
Historically, the Pakistan Rupee reached an all time high of 240.25 in July of 2022. Pakistan Rupee - data, forecasts, historical chart - was last updated on August of 2022.
The Pakistan Rupee is expected to trade at 226.99 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 236.60 in 12 months time.