As American Dollar governs today’s capitalist markets, every Pakistani Government should focus on how to reduce the worth of Dollars against the Pakistani rupee. Fluctuations in an open market are normal. The overall trend is for the rupee to gain against the dollar these days. The question is why has the Pakistani rupee been appreciating against the dollar in recent times?
When Dollar went down during the past couple of months, the cost of living still depended on PKR. The import bill did improve though. The real question a month ago was whether should the prices ever go down when the dollar loses its value against the rupee. If $ goes higher, even if you are earning more in numbers you have to pay more due to increased inflation.
Well for the first, US election uncertainty was the reason PKR gain some strength. The world knows the Pak economy is driving in the opposite direction if we compare it to other countries in the region. The lower and middle-class people in Pakistan are the worst sufferers of increasing inflation. Govt claims that the Sugar price is 80 PKR per KG while on the other hand there is 110 per KG in my home town. Besides, there is no sugar available in utility stores.
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