KARACHI: During the last year of the outgoing government, dollar has abnormally fluctuated against the Pakistani rupee that is the rupee’s value has been on a constant downward trend against that of the dollar. This can be attributed to the fact that the government in order to bring rapid improvement to the situation lowered the value of rupee to increase exports. However, the measure has rather backfired with little to no increase in exports and an increase in the account deficits.
As the country awaits a new government, it is important that the local currency is stabilised against the dollar so that measures taken in haste or at the end of the tenure do not add to trade and account losses.
Published in The Express Tribune, June 13th, 2018.