Pakistani Rupee gained 17 paisas value against the US Dollar in the interbank trading on Wednesday, a day before the general elections. The new price of the US dollar has reached Rs279.25. Earlier, S&P Global Ratings said a more stable political environment in Pakistan is likely to be an important precondition to repairing the government’s creditworthiness. The ratings agency stated that together with new policy moves to improve investor confidence and bring down inflation, this could lift fiscal and external metrics sufficiently for the sovereign ratings to move to the “B” rating category. It further stated that if the coming elections yield a government that has popular support and able to work with key institutions in the country, it will have a better chance of securing external financing from the International Monetary Fund (IMF).

Credit: Independent News Pakistan (INP)