Rupee facing depreciation

The flawed economic policy of the government and international economic crisis brought rupee under tremendous pressure.The government’s soaring debts and intensive dollar buying for imports depreciated the value of rupee during the last month.Low cotton prices in the international market effected country’s cotton exports.The international economic meltdown cast a bad effect on all Asian currencies, including Indian rupee.Some $75 million have been withdrawn from Pakistani market during the ongoing fiscal year.Pakistani rupee lost 40% value during the last three years while the other regional currencies remained firm in the meantime.Pakistan will start paying back the IMF loans from the next year and it seems difficult that Pakistan will get another IMF economic programme due to straining ties with the US. Considering these facts, situation does not appear good for rupee.