{"id":100400,"date":"2020-05-22T06:17:29","date_gmt":"2020-05-22T10:17:29","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100400"},"modified":"2020-05-22T08:36:20","modified_gmt":"2020-05-22T12:36:20","slug":"103269-usd-pkr-pakistani-rupee-drops-as-current-account-deficit-surges","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103269-usd-pkr-pakistani-rupee-drops-as-current-account-deficit-surges\/","title":{"rendered":"USD\/PKR: Pakistani Rupee Drops As Current Account Deficit Surges"},"content":{"rendered":"<ul>\n<li><strong>Pakistan\u2019s trade deficit spikes to $572 million in April vs $9 million in March<\/strong><\/li>\n<li><strong>Pakistan exports drop 25% in April<\/strong><\/li>\n<li><strong>Risk off trading amid rising US \u2013 Chinese tensions boosts USD<\/strong><\/li>\n<li><strong>At 10:15 UTC, USD\/PKR +0.4% at 161.20 &gt;&gt; <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-pkr-exchange-rate-today\/\">Real time exchange rate<\/a><\/strong><\/li>\n<\/ul>\n<p>The Pakistani Rupee is edging lower versus the US Dollar for a second straight session at the end of the week. The Pakistani Rupee settled on Thursday -0.05% lower at 160.57.<\/p>\n<p>At 10:15 UTC, <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-pkr-exchange-rate-today\/\">USD\/PKR<\/a> is trading +0.4% higher at 161.20. This is the upper end of the daily traded range of 160.57 \u2013 161.20.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-pkr-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time USD to PKR exchange rate<\/span><\/a><\/div>\n<p>The Pakistani Rupee is losing ground following the release of current account data. Pakistan\u2019s current account deficit, which calculates the difference between the country income and expenditure spiked to $572 million in April. This is 64 times the current account reading for March, which was $9 million.<\/p>\n<p>A sharp drop in exports is being blamed for the widening of the deficit in April. Exports plunged by 25% to $1.39 billion last month, compared to $1.82 billion in March as foreign demand for goods evaporated amid the coronavirus lockdown.<\/p>\n<p>Despite the widening deficit, economists still consider it to be under control and affordable owing to Pakistan\u2019s increase in foreign reserves. Foreign currency reserves have increased to above $12 billion following an emergency $1.5 billion loan from the International Monetary Fund (IMF) last month, to fight the coronavirus crisis.<\/p>\n<p>A souring mood in the market is also weighing on demand for the Pakistani Rupee and boosting the safe haven US Dollar, as relation between US and China cool further.<\/p>\n<p>China is reportedly planning to impose a new security law, entering it directly into the Hong Kong constitution, bypassing the territory\u2019s Legislative Council. The move by China to limit freedom in the financial hub of Hong Kong risks the return of pro-democratic protesters and a response from the White House.<\/p>\n<p>Trump warned China not to press ahead with the plans. Sanctions are already being drawn up.<\/p>\n<p>Today\u2019s elevation in tensions comes after a week of rising frictions between the two powers over trade and as Trump continues in his efforts to pin the blame for coronavirus on China.<\/p>\n<p>There is no high impact US data today. Investors will continue to monitor US \u2013 Chinese relations closely as the week long annual Chinese parliamentary session kicks off in Beijing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan\u2019s trade deficit spikes to $572 million in April vs $9 million in March Pakistan exports drop 25% in April Risk off trading amid rising US \u2013 Chinese tensions boosts USD At 10:15 UTC, USD\/PKR +0.4% at 161.20 &gt;&gt; Real time exchange rate The Pakistani Rupee is edging lower versus the US Dollar for a [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":83287,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1863,1381],"tags":[1399,2780,1502,1867,1864,1400,1397,1398],"class_list":{"0":"post-100400","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-pkr","8":"category-usd","9":"tag-china","10":"tag-current-account-deficit","11":"tag-exports","12":"tag-pakistani-rupee","13":"tag-pkr","14":"tag-trump","15":"tag-us-dollar","16":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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