“Alas! How sad when reasoners reason wrong.” These words by Sophocles beautifully embody the sadness and the tragedy one experiences reflecting upon Pakistan’s economic condition. A state arduously realized through a paralysis of policymaking, and a comedy of errors – a dark one, indeed. Evident, most recently, by the second highest single-day depreciation of the […] The post Default Or IMF: No Easy Way Out For Pakistan’s Economy appeared first on The Friday Times - Naya Daur.
The Pakistani rupee saw a historic fall against the dollar as per the data released by the State Bank. The opening rate of the dollar in the interbank market was PKR 230.89, while the greenback closed at PKR 255.43, resulting in a single day rupee depreciation of around 10%. Hence, this translates into the most […] The post Market Forces Prevail: The Dar Peg Is Dead appeared first on The Friday Times - Naya Daur.