Pakistani Rupee Falls Beyond 280 Against US Dollar

The Pakistani rupee has dropped down again below the 280 against the United State $, making it fragile in more than a year. This news has made general concerns among businesses and the public, as a weaker Pakistani rupee means expensive prices for goods & services. 

In Past  the Pakistani rupee was at this level in January 2024, and now the critical decline is again affecting the economy with their harmful effects.

What’s the Reason Behind the Fall Of Pakistani Rupee?

One of the biggest and main critical  reasons for the drop of the Pakistani rupee is the high demand for the United States $. Pakistan depends on imports for essential items like oil, food, & machinery parts. When businesses need more US ($) Dollars to pay for these goods, food and these machinery parts then the Pakistani rupee drops down .

 Another major reason is the low amount foreign exchange reserves. The country does not have enough US ($) dollars in its reserves, making it very critical to stabilize and manage the currency.

Another big and major issue is the repayment of foreign loans. Islamic Republic Of Pakistan has to pay back large amounts in US Dollars, & when reserves are low, the Pakistani rupee loses its value and again drops down. 

Pakistani political & economic instability also plays a major role in this problem, as investors are less confident about putting and investing their money into Pakistan’s market.

Read Also: US Imposes Strict Travel Restrictions On Pakistan, Afghanistan

How They were  Impact on Daily Life

A rupee which has weaker  value makes life more expensive and critical  for the ordinary public. When the rupee drops down, the cost of imported goods, food and the machinery parts increases, leading to expensive prices of fuel, food, and medicine. Inflation increases, and people find it harder to afford basic needs. 

For students who have continued their study abroad and those people who are planning for international travels, the fall in Pakistani rupee means they need more money to cover their needs. Their families must arrange extra funds for  their tuition fees, accommodation, & travel.

Pakistan’s Government  Effective Steps To control this Problem

The government of Pakistan & the State Bank of Pakistan need to take effective action to control this situation. As well as the government of Pakistan works on different projects which provide help regarding this big and critical problem.