The currency of Pakistan, Iran and Turkey is rapidly 'falling upside down', the trouble of the three countries is going to increase

The currency of Pakistan, Iran and Turkey is rapidly 'falling upside down', the trouble of the three countries is going to increase

The Pakistani rupee has been falling continuously against the US dollar in the interbank currency market for months. According to local media, this decline is a matter of concern for the Imran Khan government as it suggests that the country is facing a deep economic problem. The Pakistani rupee closed at 175.73 against the US dollar on Friday. Since May 14 and July 1, the rupee has depreciated by 13.34 per cent and 10.35 per cent, respectively. Pakistan's foreign exchange reserves have also declined to US$ 17.3 billion from US$ 19.2 billion in early October.

The delay in restarting the International Monetary Fund's (IMF) loan program is also not helping the neighboring country. At the same time, the Turkish lira has fallen by more than a quarter so far this year, making it the worst performer among emerging markets this year. It lost two-thirds of its value in five years. Due to this, the income of the people of Turkey has declined and inflation has increased.

As of Friday, the Turkish lira reached an all-time low of 9.975 against the US dollar. During the past week, the Iranian rial has also fallen by 2.8 per cent, falling to 31.5 per cent in the past six months. Iran's economy has suffered a lot after the administration of former President Donald Trump pulled out of the nuclear deal.

Pakistan's trouble will increase

Despite restrictions on imports of the State Bank of Pakistan and purchase of dollars in the open market, the Pakistani rupee is falling against the US dollar. According to Pakistani newspaper Dawn, since there is no help from anywhere, there is no possibility of the rupee moving upwards in the coming times. A deal with the IMF is crucial for raising dollars through international bond markets.

The Government of Pakistan will continue to rely on inbound remittances by Pakistanis to meet its current account deficit and will have to slowly deplete money from reserves created through past borrowings, until the latest The loan is not available anywhere.

That's why the concern of these countries increased

Under normal circumstances, currency depreciation is nothing to worry about. Due to high inflation and other economic factors, currencies constantly push their prices down. This helps the country's exports to remain competitive in international markets, increases domestic production and promotes economic growth. However, there is a huge fall in the currency, as is happening with the Pakistani rupee. This shows that the country is facing deeper problems. There are issues like low productivity, limited export options, high import dependence and rising inflation.

(with language input)


Globally, trust in government and media has decreased, said this in the annual report of the Edelman Trust Barometer

Globally, trust in government and media has decreased, said this in the annual report of the Edelman Trust Barometer

Public confidence in the government and media has eroded over the past year amid the coronavirus pandemic, while concerns about fake news are at an all-time high. This information has been given in the annual report of 'Edelman Trust Barometer' released on Tuesday. This report is released every year during the Davos Summit of the World Economic Forum. It has also been shown that business has taken the place of government as the most reliable. The government and media have come in second and third place.

Globally, 76 percent of respondents said they are concerned about fake information or news being used as a weapon, according to the study. Spain tops the list with 84 per cent, while India is at the fifth position with 82 per cent.

China tops the average percentage of people taking NGOs, businesses, governments and media, while India ranks fourth and Russia is at the bottom.

India ranks second after Indonesia in terms of trust in employers

India is also in the top five in terms of economic optimism. India ranks second (90 percent) after Indonesia (91 percent), while China (89 percent) ranks third in terms of employer confidence. Korea has come last. Confidence in business, governments and the media has waned in India, while it remains unchanged with respect to NGOs.

People who participated in this survey from India said that they have the highest trust in NGOs. The survey was conducted in 28 countries. In the survey, more than 31 thousand common people and about six thousand knowledgeable people were talked to.

(with language input)