{"id":104373,"date":"2020-09-09T11:05:47","date_gmt":"2020-09-09T10:05:47","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=104373"},"modified":"2020-09-09T16:40:06","modified_gmt":"2020-09-09T15:40:06","slug":"104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\/","title":{"rendered":"USD\/PKR: Rupee Edges Lower As Fitch Warns On Remittances Falling"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/pkr-pakistani-ruppe-live-exchange-rate\/\">Pakistani Rupee<\/a> (PKR) extends losses<\/strong><\/li>\n<li><strong>Fitch forecasts the current account deficit to widen to 1.7% of GDP<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) advances as European currencies drop<\/strong><\/li>\n<li><strong>No data is due leaving sentiment to drive the greenback<\/strong><\/li>\n<\/ul>\n<p>The <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-to-pkr-exchange-rate-today\/\">US Dollar Pakistani Rupee<\/a> (USD\/PKR) exchange rate is gaining altitude on Wednesday, adding to gains from the previous session. The USD\/PKR settled +0.24% on Tuesday at 166.00. At 09:30 UTC, USD\/PKR trades +0.24% at 166.24.<\/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>International ratings agency Fitch warned that Pakistan\u2019s current account deficit could widen to 1.7% of GDP in the coming fiscal year FY2021 as remittances decline offsetting gains from softer oil prices. Fitch said that it expects remittances to fall despite the economic recovery in recent months. The agency added that a high debt to GDP ratio could hinder Pakistan\u2019s ability to address social spending needs.<\/p>\n<p>Pakistan had seen its current account deficit decline from a 6.1% of GDP high in 2018 to just 1.1% in fiscal year 2020. It had also built its forex reserves in a bid for a more market led exchange rate.<\/p>\n<p>The US Dollar is advancing amid deep decline in European currencies, particularly sterling on Brexit troubles. A steep selloff in US big tech stocks overnight spread to the wider equities creating a risk averse climate in the US session. However, for now that appears to be easing as European stocks advance.<\/p>\n<p>Investors are managing to shrug off news that AstraZeneca will pause all its coronavirus vaccine trials following an adverse reaction in one participant. In vaccine trials it is standard procedure to halt the trial under such circumstances, for independent review. The market seems satisfied with the response. This means risk sentiment is improving, gains in the US Dollar are being capped whilst the sell off in riskier assets and currencies, such as the Rupee is also being limited.<\/p>\n<p>There is no high impacting US data due today meaning that sentiment will drive the US Dollar. Tomorrow investors look towards US jobless claims figures for further clues over the the health of the economic recovery.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistani Rupee (PKR) extends losses Fitch forecasts the current account deficit to widen to 1.7% of GDP US Dollar (USD) advances as European currencies drop No data is due leaving sentiment to drive the greenback The US Dollar Pakistani Rupee (USD\/PKR) exchange rate is gaining altitude on Wednesday, adding to gains from the previous session. [&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":[1864,1398,1866],"class_list":{"0":"post-104373","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-pkr","8":"category-usd","9":"tag-pkr","10":"tag-usd","11":"tag-usd-pkr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/PKR: Rupee Edges Lower As Fitch Warns On Remittances Falling - 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\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\/\" \/>\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\\\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/PKR: Rupee Edges Lower As Fitch Warns On Remittances Falling\",\"datePublished\":\"2020-09-09T10:05:47+00:00\",\"dateModified\":\"2020-09-09T15:40:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\\\/\"},\"wordCount\":377,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/usd-pkr-bank-notes.jpg\",\"keywords\":[\"pkr\",\"usd\",\"usd\\\/pkr\"],\"articleSection\":[\"PKR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104126-usd-pkr-rupee-edges-lower-as-fitch-warns-on-remittances-falling\\\/\",\"name\":\"USD\\\/PKR: Rupee Edges Lower As Fitch Warns On Remittances Falling - 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