Pakistani Rupee Likely to Fall to 285 Against Dollar by End of June, Says Fitch

The State Bank of Pakistan (SBP) is likely to let the rupee gradually weaken to help manage pressure on the country’s current account, as the economy starts to grow, according to credit rating agency Fitch Ratings. According to a report by Bloomberg, Fitch expects the rupee to fall to 285 against the US dollar by the end of June and slide further to 295 by the end of the next fiscal year in 2026. The forecast was shared by Krisjanis Krustins, Director for Asia Pacific sovereign ratings at Fitch. So far this year, the rupee has dropped about 0.7 percent, making it one of the weaker currencies in the region, based on Bloomberg data. The State Bank of Pakistan has not yet commented on this outlook. “We understand that the state bank is reasonably concerned about that,” Krustins said during a Fitch webinar on Tuesday. “While they’re managing that by holding onto higher rates for longer, we think they’ll also manage that by allowing a bit more currency depreciation,” he added.