Re: Dollar and the rupee
While the US dollar is going down below historic levels against almost all currencies, it has broken through a historic high against the Pakistan rupee. What is the contributing to this counter trend, particularly considering that Pakistan economy is reported to growing at a tear while the US economy is stagnant to receding? Plus, the Pakistani borrowing are reported to have been brought down to a much lower level than recent decades, so it cannot be deb servicing that is eating up their currency.
I don't get it - what is going on?
It might have something to do with growing difference between imports and exports, I believe there is difference of around $14-15 billion between imports and exports, with imports far exceeding the exports.