{"id":102619,"date":"2020-07-30T06:11:24","date_gmt":"2020-07-30T10:11:24","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102619"},"modified":"2020-07-30T05:20:32","modified_gmt":"2020-07-30T09:20:32","slug":"103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/","title":{"rendered":"USD\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts"},"content":{"rendered":"<ul>\n<li><strong>Pakistani Rupee (PKR) is under pressure as full year large scale manufacturing (LSM) is worse than initially forecast<\/strong><\/li>\n<li><strong>This could negatively impact GDP<\/strong><\/li>\n<li><strong>US Dollar (USD) recovers after dovish Fed drags on greenback<\/strong><\/li>\n<li><strong>US GDP expected to show -35% on an annual basis in Q2<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Pakistan Rupee (USD\/PKR) exchange rate is extending gains for a second straight session. The pair settled on Wednesday +0.2% at 166.72. At 08:45 UTC, USD\/PKR trades +0.1% at 166.90.<\/p>\n<p>Pakistan\u2019s Large-Scale Manufacturing Index is showing signs of recovery. After plunging -42% year on year in April the index declined -25% in May. According to data released by the Pakistan Bureau of Statistics nearly all the major contributors to the LSM saw a month on month recovery as lockdown eased. The major contributors are cotton, yarn cloth, cigarettes, steel and iron, cement and the automobile sector.<\/p>\n<p>Even so, the full year contraction in LSM is expected to be -10.4%, worse than the governments\u2019 provisional estimates of -7.7%, making FY2020 the worst year for large scale manufacturing in Pakistan in 2 decades. This in turn could lead to a downward revision in GDP estimate.<\/p>\n<p>The Dollar is pushing higher versus its major peers on Thursday, showing some signs of life after coming under pressure in the previous session. As analyst expected, the Federal Reserve kept made no changes to monetary policy. Federal Reserve Chair Jerome Powell warned that the coronavirus crisis was far from over and that the US economy was facing intensifying challenges. As covid numbers continue to increase the US economic recovery is showing signs of slowing. The Fed promised to use its full range of tools if needed. The dovish tone dragged on the US Dollar.<\/p>\n<p>Attention will now turn to the US GDP for the second quarter April &#8211; June period. The GDP reading expected to be grim as lockdown caused consumer spending to slow significantly and business investment to dry up. Analysts are expecting the economy to have contracted -35% on an annual basis in the second three months of the year. This will be the deepest contraction recorded since World War 2. A weaker than forecast number could send the US Dollar tanking lower.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistani Rupee (PKR) is under pressure as full year large scale manufacturing (LSM) is worse than initially forecast This could negatively impact GDP US Dollar (USD) recovers after dovish Fed drags on greenback US GDP expected to show -35% on an annual basis in Q2 The US Dollar Pakistan Rupee (USD\/PKR) exchange rate is extending [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4846,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1863,1381],"tags":[1408,1409,3050,1867,1864,1397,1398],"class_list":["post-102619","post","type-post","status-publish","format-standard","has-post-thumbnail","category-pkr","category-usd","tag-fed","tag-gdp","tag-large-scale-manufacturing","tag-pakistani-rupee","tag-pkr","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts\",\"datePublished\":\"2020-07-30T10:11:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/\"},\"wordCount\":373,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100627-gbp-eur-weak-manufacturing-data.jpg\",\"keywords\":[\"fed\",\"gdp\",\"large scale manufacturing\",\"Pakistani Rupee\",\"pkr\",\"us dollar\",\"usd\"],\"articleSection\":[\"PKR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/\",\"name\":\"USD\\\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100627-gbp-eur-weak-manufacturing-data.jpg\",\"datePublished\":\"2020-07-30T10:11:24+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100627-gbp-eur-weak-manufacturing-data.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100627-gbp-eur-weak-manufacturing-data.jpg\",\"width\":725,\"height\":400,\"caption\":\"Pound Drops vs. Euro on Brexit Fears & Weak Manufacturing Data\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"USD\\\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\",\"name\":\"Fiona Cincotta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"caption\":\"Fiona Cincotta\"},\"description\":\"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/fiona-cincotta-bb4a4845\\\/\"],\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/fiona-cincotta\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"USD\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"USD\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts","datePublished":"2020-07-30T10:11:24+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/"},"wordCount":373,"image":{"@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100627-gbp-eur-weak-manufacturing-data.jpg","keywords":["fed","gdp","large scale manufacturing","Pakistani Rupee","pkr","us dollar","usd"],"articleSection":["PKR","USD"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/","url":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/","name":"USD\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100627-gbp-eur-weak-manufacturing-data.jpg","datePublished":"2020-07-30T10:11:24+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100627-gbp-eur-weak-manufacturing-data.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100627-gbp-eur-weak-manufacturing-data.jpg","width":725,"height":400,"caption":"Pound Drops vs. Euro on Brexit Fears & Weak Manufacturing Data"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/103730-usd-pkr-pakistan-rupee-declines-lsm-worse-than-government-forecasts\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"USD\/PKR: Pakistan Rupee Declines, LSM Worse Than Government Forecasts"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec","name":"Fiona Cincotta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","caption":"Fiona Cincotta"},"description":"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.","sameAs":["https:\/\/www.linkedin.com\/in\/fiona-cincotta-bb4a4845\/"],"url":"https:\/\/currencylive.com\/news\/author\/fiona-cincotta\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100627-gbp-eur-weak-manufacturing-data.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/102619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946597"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=102619"}],"version-history":[{"count":3,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/102619\/revisions"}],"predecessor-version":[{"id":102622,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/102619\/revisions\/102622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/4846"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=102619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=102619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=102619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}