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USD all way going up – dirty politics in Pakistan

1Feb

By Muhammad Dastageer ShamsNo Comments

Pakistan

USD all way going up – dirty politics in Pakistan

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...

Despite foreign aid, USD hits highest against PKR

The Pakistani Rupee PKR has witnessed its worst performance in history. PKR fell for the 13th continuous time against the USD on Tuesday. USD reached a record highest price of about 239.71 in the international foreign exchange market. This is the worst condition of the Pakistani Rupee since the beginning of the currency. Pakistan has been under the many hits of high rates of the United States Dollar price. But this is the worst performance so far. International Monetary Fund (IMF) has approved a loan of about 1.2 billion USD. Experts were confident that PKR will have better value. After the recent disasters caused in Pakistan due to Floods, the world has responded positively to the government’s request for help. It is estimated that at least a half billion USD has been received by Paki...

PKR Recovery against USD

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...