{"id":95880,"date":"2020-02-11T06:00:58","date_gmt":"2020-02-11T11:00:58","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95880"},"modified":"2020-02-11T12:19:38","modified_gmt":"2020-02-11T17:19:38","slug":"102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\/","title":{"rendered":"USD\/PKR: IMF Warn of Impact of Coronavirus on Pakistani Economy"},"content":{"rendered":"<p>The Pakistani Rupee traded flat versus the US dollar on Monday despite Chinese authorities lifting some work restrictions and implementing measures to support the Chinese economy amid the ongoing coronavirus outbreak. The US dollar Pakistani Rupee exchange rate closed Monday\u2019s session flat at 154.650.<\/p>\n<p>The Pakistani Rupee is cautiously strengthening versus the greenback in early trade on Tuesday as coronavirus fears ease and as investors look ahead to Federal Reserve Chair Jerome Powell\u2019s two-day appearance before Congress.<\/p>\n<h3><strong>Pakistani Rupee<\/strong><\/h3>\n<p>The Pakistani Rupee was under pressure in the previous session after the International Monetary Fund warned of the negative impact of coronavirus on the Pakistani economy. The IMF highlighted concerns of a spillover effect from the slowing Chinese economy, which it believes will drag on Pakistan\u2019s GDP growth in the current fiscal year. The IMF forecast economic growth of 2.4%.<\/p>\n<p>Pakistan authorities, however, rejected the claims, arguing that they do not believe that the coronavirus outbreak will have any spillover impact on the economy. They insisted that he target 3.3% GDP and inflation between 11-12% remain intact.<\/p>\n<p>With no economic data due for release until later in the week, investor attention could remain on coronavirus and its impact on the Chinese and Pakistani economy.<\/p>\n<h3><strong>US dollar<\/strong><\/h3>\n<p>US dollar investors will be watching Fed Chair Jerome Powell closely in his semiannual testimony before Congress. Today Mr. Powell will testify in front of the House of Representative and tomorrow in front of the Senate.<\/p>\n<p>Jerome Powell will give his views on the economy and also provide clues as to where monetary policy could be heading in the near future. He will be looking to do this in such a way that he is not tying himself or the Federal Reserve to a particular path of monetary policy.<\/p>\n<p>His appearance comes at a key junction for the US economy as it is leaving behind a disruptive trade war with China and as the central bank faces an ongoing battle with low inflation, but with a strong labor market.<\/p>\n<p>Analysts are broadly expecting an upbeat testimony from Jerome Powell, with an acknowledgement of the threat that coronavirus could bring to the global economy. An overly cautious Mr Powell could drag on demand for the dollar.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The Pakistani Rupee traded flat versus the US dollar on Monday despite Chinese authorities lifting some work restrictions and implementing measures to support the Chinese economy amid the ongoing coronavirus outbreak. The US dollar Pakistani Rupee exchange rate closed Monday\u2019s session flat at 154.650. The Pakistani Rupee is cautiously strengthening versus the greenback in early [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82252,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1863,1381],"tags":[2274,1438,1409,1669,2282,1867,1864,1397,1398],"class_list":{"0":"post-95880","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-pkr","8":"category-usd","9":"tag-congress","10":"tag-federal-reserve","11":"tag-gdp","12":"tag-imf","13":"tag-jerome-powe","14":"tag-pakistani-rupee","15":"tag-pkr","16":"tag-us-dollar","17":"tag-usd"},"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: IMF Warn of Impact of Coronavirus on Pakistani Economy - 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\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\/\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/PKR: IMF Warn of Impact of Coronavirus on Pakistani Economy\",\"datePublished\":\"2020-02-11T11:00:58+00:00\",\"dateModified\":\"2020-02-11T17:19:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\\\/\"},\"wordCount\":628,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-pkr.jpg\",\"keywords\":[\"Congress\",\"federal reserve\",\"gdp\",\"imf\",\"Jerome Powe\",\"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\\\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102346-usd-pkr-imf-warm-of-impact-of-coronavirus-on-pakistani-economy\\\/\",\"name\":\"USD\\\/PKR: IMF Warn of Impact of Coronavirus on Pakistani Economy - 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