Pakistan, caught in the throes of economic volatility, is teetering on the brink of a financial abyss. Political instability is fueling this crisis, amplifying the financial downturn and triggering a severe currency depreciation.

In the past year, the Pakistani Rupee (PKR) has been on a sharp downward trajectory, losing a staggering 20% of its value. This drop has positioned it as the worst-performing currency on the global stage. With the exchange rate recently dipping to a record low of 299 PKR per US Dollar, the situation appears increasingly precarious.

Economists are projecting a further plunge, potentially as low as 350 PKR per US Dollar by June, if a vital loan from the International Monetary Fund (IMF) doesn't materialize. The looming foreign exchange crisis presents an imminent threat to Pakistan's fragile economy.

This impending economic adversity is more apparent when looking at the financial year 2023-2024. Pakistan needs $22 billion to fulfill its external debt loan and  interest payments, which is five times more than the available reserves of $4.5 billion. Without assistance from the IMF, Pakistan could face the severe risk of defaulting on its international loans.

Such economic turbulence is deeply intertwined with Pakistan's political climate. Over the 76 years since independence, military rule has dominated for 32 years, contributing to a persisting political instability that deters foreign investment.

The upcoming October elections will take place amid significant public dissatisfaction, with the current government being one of the least popular in Pakistan's history. The quest for political stability is paramount for restoring investor confidence and stabilizing the faltering economy.

The economic forecast for Pakistan, particularly the PKR's performance against global currencies, is causing concern across the world, 

Given the anticipated depreciation of the PKR against the USD, Middle Eastern currencies like the KWD, AED, SAR, OMR, QAR, and BHD could potentially see a proportional increase in their rates compared to the PKR.