Pakistan’s currency is expected to come under further pressure
On Tuesday January 9, 2018 Moody’s credit ratings agency warned that Pakistan’s currency is expected to come under further pressure due to deficiency, any further depreciation in the currency will lead to weakening of affordability on country’s debt.
Moody’s is one of the top global credit rating agencies. A month after State Bank of Pakistan (SBP) let the rupee weaken to almost 5%, Moody’s issued a note saying, “If the Pak rupee (PKR) depreciates markedly further, the country’s central bank will face the difficult challenge of anchoring inflation expectations at moderate levels.”
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