On April 7, a number of Pakistani media outlets reported that the value of the dollar in that country had risen to record levels.
Mattis Global, a financial analyst firm based in Karachi, wrote on its website on April 7 that the dollar was trading at 186 rupees in Pakistan on April 6, but today the rupee has depreciated further and the value of one US dollar has risen to 189. Rs. Authorities have blamed the ongoing political instability in the country.
Economists say the rupee has depreciated since the country’s political crisis began on April 3 when Qasim Shah Soori, deputy speaker of the National Assembly, rejected a motion against Prime Minister Imran Khan. Immediately after that, Imran Khan recommended to the President to dissolve the National and Provincial Assemblies. Pakistan’s President Arif Ali also defeated the National Assembly that day.
This situation has also had a negative impact on Pakistan’s economy. Pakistan has been facing economic difficulties for more than three years, which is why it has been forced to borrow money from the International Monetary Fund (IMF).
