currency Archives

The Pakistani currency, the Pakistani Rupee (PKR), has been struggling in recent months. The US dollar (USD) is reaching new highs against the local currency due to dirty politics. The USD is rising due to a number of factors. These include factors such as economic instability, rising inflation, and geopolitical tensions. However, some experts have also pointed to the role of dirty politics in the country. They believe that dirty politics is also contributing to the weakening of the PKR. Political instability in Pakistan has long been a concern for investors. Many foreign companies are hesitant to invest in the country due to the perceived risks. Experts are criticizing the current government for its handling of the economy. However, some accuse the government of prioritizing short-te...

According to the State Bank of Pakistan (SBP), the local currency gained rupees 1.5 or 0.71 percent to close at PKR 213.98 against USD. Pak rupees, which recovered by four percent last week continue to rise on Monday as well. Saad Bin Naseer, director of Metis Global, said the local currency rise as USD is flowing into the country, adding that more inflows expected. He added the exporters who were keeping their dollars abroad, we're also bringing them to Pakistan quickly as the greenback was depreciating rapidly. Naseer said there was "pressure" as exporters were approaching the government and other institutions to push for stabilization of the exchange rate as they were facing losses. "But this will always happen. The best suggestion is to convert the dollar into rupees on the d...

Tag: currency

USD all way going up – dirty politics in Pakistan

PKR Recovery against USD