The Central Bank of Pakistan had raised interest rates last week. Interest rates are currently the highest in 24 years.
New Delhi: After the severe crisis in Pakistan, the currency has depreciated greatly. Pakistan rupee tumbles against US dollar On Thursday, the exchange rate was Rs 225 per dollar. The reason for the rupee’s appreciation is the easing of the exchange rate to get more loans from the International Monetary Fund (IMF).
The government lifted the dollar-rupee exchange rate cap on Wednesday. Yesterday at one o’clock the value of the rupee decreased by 24 rupees to 255.
The Central Bank of Pakistan had raised interest rates last week. Interest rates are currently the highest in 24 years.
At the same time, it is also reported that the wave of economic slowdown faced by China may be felt all over the world. According to data released by China’s National Bureau of Statistics, the GDP growth rate fell to 3 percent. The target for 2022 was 5.5 percent. It is reported that this recession will be felt all over the world.
Chinese Vice Premier Liu He pointed out how the concerns and challenges faced by China will affect the global economy at the World Economic Forum in Davos. In the last five years, there have been many unexpected events including Covid. The world also faced political and economic collapses. Therefore, he pointed out that even the topic of this year’s annual meeting is not relevant.
According to the Financial Post report, China is currently at its lowest level since 1974 when the GDP was at a low of 2.3 percent.
