Pakistan is under threat of currency crisis, warns Japanese holding company Nomura

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Pakistan is under threat of currency crisis, warns Japanese holding company Nomura

Nomura Holdings, Japan’s largest brokerage firm, has issued a warning.

Seven countries are currently at risk of currency crisis, including Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary.

“This is his highest total since July 1999 and not far from his peak of 2,692 during the Asian crisis,” Nomura economists said.

Nomura calculates that a score above 100 implies a 64% probability of a currency crisis in the next 12 months based on the data.

Egypt currently has the lowest score at 165 and already this year he has severely devalued his currency twice and has applied for the IMF programme.

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