Today the rupee gained 18 paise against the dollar and closed at 73.50. Today there was a tremendous rise in the stock market and foreign investors bought with a bag, due to which the rupee has risen against the dollar. On the other hand, Pakistani currency is in bad shape. The Pakistani rupee today closed at an all-time low of 169.60 against the US dollar. In this way, the Pakistani rupee is less than half against the Indian rupee.
Today, a huge fall of 1 rupee was recorded in the Pakistani rupee. Chairman of Exchange Companies Association Pakistan Malik Bostan told the media that the importers are buying in advance in dollars, due to which the pressure on the Pakistani rupee has increased. He said that traders are feeling that the prices will increase in the coming days, due to which advance buying is being done on a large scale.
Pakistani Central Bank is sitting silent
He clearly said that the Central Bank of Pakistan, the State Bank of Pakistan, is not taking any concrete steps to rein in the fall in the value of the currency. In such a situation, if proper steps are not taken at the right time, then the Pakistani rupee will have no value. At present, the Pakistani rupee is considered to be the weakest currency in Asia.
Falling prices will increase inflation
Financial experts say that as the value of the currency falls, it will have a direct impact on inflation. People are already worried about inflation. More speed in this will not be good for the public. On May 14, the Pakistani rupee was trading at a level of Rs 151.83 against the dollar. Since then it has declined drastically.
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