Pakistani Rupee | Pakistan’s rupee is already poor, it comes down heavily, after Imran Khan’s suspension, a big decline
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Karachi (Pakistan): Pudhari Online; Pakistan’s economy is already in a shambles and the Pakistani rupee is in tatters. A day after former Prime Minister Imran Khan was arrested in Islamabad in the Al-Qadir Trust corruption case, the Pakistani rupee depreciated by 1.3 percent to a record low of 288.5 against the US dollar on Wednesday.
The Pakistani rupee is 3.45 against the Indian rupee. This means that one Indian rupee is equal to 3.45 Pakistani rupees. For the past few days, the Pakistani rupee has devalued to a great extent. The reason for this is the declining economy of Pakistan. Pakistani economy is going towards bankruptcy. It has become difficult for people to wake up due to rising inflation. Here the inflation rate has reached 36 percent. In fact, the inflation rate is much higher than the official figures, analysts say.
The International Monetary Fund (IMF) has declared that Pakistan’s economy would have grown by 0.2 percent this year. In 2022, the rate of growth of the economy would have been 6 percent. Looking at the current situation, a picture is visible of Pakistan’s economy going into recession in the next few days.
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According to the statistics released by the Pakistan Bureau of Statistics, Potatoes (288 percent), Gas (108 percent), Maida (120 percent), Cigarettes (165 percent), Diesel (102 percent), Tea (94 percent), Banana (89 percent), Basmati rice (81 per cent), petrol (81 per cent), eggs (79 per cent) are the major commodities. According to statistics, out of 51 essential commodities, the prices of 26 commodities have increased (Inflation in Pakistan). The prices of 12 items have decreased slightly, while there is no change in the prices of 13 items as it is clear from the data.
This is the covenant:
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