The value of the US dollar has surged by more than 100 rupees in just 11 months, sending shockwaves through the Pakistani Stock Market. This sudden spike has caused considerable concern for investors, policymakers, and the public at large.
At the time of writing, the dollar is currently trading at 165.10 rupees, rising with a amount of 102.50 rupees just 11 months ago. This represents a tremendous increase of a drop down in pkr value and has far-reaching implications for the economy of the country.
The rise of the dollar can be attributed to a variety of factors. One of the main reasons is the ongoing COVID-19 pandemic, which has had a devastating impact on the global economy. As a result, investors are looking for safe-haven assets to invest their money in, and the dollar has traditionally been seen as a safe bet.
Another factor contributing to the rise in the dollar is the current state of the Pakistan’s financial system. With interest rates at historic lows . On the other hand , investors are looking for a stable currency to protect their investments.
The rise of the dollar has had a profound impact on the trading sector as well. Imports have become more expensive, leading to rising prices for goods and services. This has put a strain on households and businesses alike, with many struggling to cope with the increased costs.
The government has been quick to respond to the crisis, taking steps to boost the value of the rupee and support the local economy. However, the situation remains challenging, and it is unclear when the dollar will start to decline in value.
In conclusion, the rise of the dollar by more than 100 rupees in just 11 months is a cause for concern for investors, policymakers, and the public. While the government is taking steps to address the situation, it remains to be seen how long it will take for the value of the rupee to stabilize. The situation is one that will require ongoing attention and monitoring by all stakeholders involved.