The value of Pakistani rupee is decreasing every day against the dollar. According to the Exchange Companies Association of Pakistan, on Friday the price of one dollar in the open market has been 151 Pakistani rupees. This is the highest price for the dollar compared to the Pakistani rupee. According to the Pakistani newspaper Dawn, it has been the worst week in Pakistan’s stock market in the past 17 years. On 17th May, the value of one dollar in Indian rupee was 70 rupees.
The value of Pakistani rupees(PKR) have become less than half of the Indian Rupees(INR). The cost of a Pakistani rupee has become only 47 paise in India. If an investor wants to buy Indian currency through Pakistani rupee, he will have to spend more than two Pakistan rupees to buy an Indian rupee.
The Pakistani rupee(PKR) has fallen below Nepalese rupee. At present, the price of a Nepali rupee is 63 paise(in INR), while the cost of a Pakistani rupee(PKR) is 47 paise(in INR). In this sense, the Pakistani rupee has become weaker than Nepalese currency too.
The pakistani currency has become weaker than Bangladeshi currency too.
- 1 US dollar= 70 Indian rupees
- 1 US dollar= 151 Pakistani rupees
- 1 US dollar= 84.25 Bangladeshi Taka
- 1 US dollar= 112.29 Nepalese Rupee
- 1 Pakistani Rupee(PKR)= 0.47 Indian Rupee(INR)
- 1 Nepalese Rupee = 0.63 Indian Rupee(INR)
After taking loan from IMF, Pakistan’s economy is in serious trouble now. The value of Pakistani rupee has dropped by 5 percent in last two days.
Dollar strengthening against Pakistan’s rupee means imports also go up. Petrol may also be costlier in Pakistan depending on imports for crude oil. At the moment, inflation has reached the highest level of nine years in Pakistan. The inflation rate in Pakistan is 9.2 percent at this time while inflation rate in India is 2.92% at this time.