Rupee slaughtered; lost over 110/$ in 11 months: Imran Khan

• Imran Khan said the devaluation of rupee had increased the public debt
• He said inflation aplified to 75-year high – 31.5 per cent.
• He said Pakistanis were paying heavy price of regime change conspiracy

LAHORE: Pakistan Tehreek e Insaf (PTI) Chairman Imran Khan on Thursday said the Pakistani rupee had been slaughtered as it lost more than 62 per cent or 110 per dollar in 11 months of the Pakistan Democratic Movement (PDM).

In a tweet, Imran Khan said the devaluation of rupee had increased the public debt by Rs14.3 trillion and inflation to 75-year high – 31.5 per cent.

“Rupee slaughtered – lost over 62% or 110/$ in 11 months of PDM. This has increased public debt alone Rs 14.3 trn & historic 75 yr high inflation 31.5%. Pakistanis paying heavy price of regime change conspiracy where a bunch of criminals have been foisted upon nation by ex COAS,” he tweeted.

In just one day on Thursday, dollar strengthened against Pakistani rupee by more than Rs18 per dollar.

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KARACHI: The rupee slipped Rs1.58 against the dollar on Tuesday, owing to...

ON February 28, the rupee had slipped Rs1.58 against the dollar, owing to the fears of a delay in the loan programme under the International Monetary Fund (IMF), dealers had said.

The rupee had ended at Rs261.50 against the greenback from the previous day’s closing of Rs259.92 in the interbank foreign exchange market.

The dealers had said the reports of a delay in the IMF programme badly affected the market sentiments. However, the State Bank of Pakistan (SBP) had convened a Monetary Policy Committee (MPC) ahead of schedule to fulfil one of the IMF conditions to finalise the staff-level agreement.

The SBP had announced that the meeting of the Monetary Policy Committee would be held on March 2, 2022, which was actually scheduled for March 16, 2023.

Reports had said the central bank may announce an aggressive increase in the policy rate from the existing 17 per cent.