According to Trading Economics global macro models and analysts’ expectations, the Pakistani rupee will trade at 293.52 by the end of this quarter.

In the next 12 months, the agency estimates the PKR to trade at 317.29.

In addition to historical data and forecasts for economic indicators, exchange rates, stock market indexes, government bond yields, and commodity prices, Trading Economics provides information for 196 countries.

USD-PKR declined 0.2000 or 0.07 percent to 276.7500 on Thursday from 276.9500 the previous day.

USD-PKR spot exchange rates indicate how much one currency, USD, is currently worth in terms of another, PKR.

A USD-PKR spot exchange rate is quoted and exchanged on the same day, whereas a USD-PKR forward rate is quoted and exchanged on the same day, but for delivery and payment on a future date.

Due to high domestic borrowing, substantial interest payments, and the need to restructure unsustainable debt in 2024 and 2025, Bank of America Securities predicted Pakistan’s currency could devalue to Rs340 against the US dollar.

On Wednesday, the Pakistani rupee closed at Rs277.41 against the US dollar.

According to BofA Securities, inflation will remain high over the next few years, with a projection of 26pc in FY24. Pakistan’s central bank’s key policy rate may also rise to 25% by the end of the year from its current 22 percent.

In a report released on June 30 titled “Pakistan Viewpoint – Running out of orthodox options,” BoFA stated that even though they believe the rupee has already reached its fair value at Rs286 against the dollar, the high domestic borrowing of Rs2.5 trillion could cause it to fall by another 15-25 percent to Rs340 per dollar.