Pakistani rupee trading near ‘fair value’ – ZAWYA

Pakistani rupee trading near ‘fair value’ – ZAWYA

pakistani rupee trading near 'fair value' currency unlikely to depreciate sharply in h2, may average 46.6 versus dirham in 2021    image used for illustrative purpose. a currency dealers counts pakistan rupee bills in karachi may 20, 2008. pakistan's rupee is currently trading near its fair value and is unlikely to see a sharp depreciation in the second half of 2020, but the currency is expected to weaken slightly next year to average 171.15 versus the us dollar, or 46.6 against the uae dirham, say analysts."pakistan's rupee has fallen 22 per cent in real terms since 2017, putting our estimate for the underlying current account in slight surplus. that, in turn, means the rupee is near fair value," said garbis iradian, chief economist for mena region at the institute of international finance.the rupee has declined substantially in the recent year, including in 2020. it has lost 1.2 per cent in the past month and 4.6 per cent in the past year. in the last five years, it has fallen from 27.7 on july 20, 2015, to 45.5 on on thursday versus the dirham, losing over 64 per cent. it hit an all-time low of 45.82 versus the dirham, or 168.15