By Sarmad Ali
US Dollar is all time up Rs165 in Pakistan’s history. This happens when literally the most incompetent stuff is handpicked by the establishment.
Now every one has to face this brunt as the country economy under inept and incompetent selected Imran Khan. The US Dollar rose Rs7.5 to hit Rs164 plus in inter bank trade on Wednesday at the close of the day’s trading.
The greenback is being traded at Rs163 in the open market ─ an increase of at least Rs6. In the past two months, since Pakistan signed a deal with the International Monetary Fund (IMF), the dollar has been on a consistent upward climb.
Last week, State Bank of Pakistan Governor Reza Baqir had provided assurances that the central bank was ready to intervene in the market in case of excess volatility.
Baqir explained that the government had adopted a market-based exchange rate instead of a free float or fixed exchange rate, as neither were appropriate at this time.
Shameful and incompetent people at the helm of the affairs seem to have their own designs.
It appears there has been no government in Pakistan and the puppet is dancing to the tune of masters. Let’s see if this goes on this way and the Dollar touches 200 Rupee mark. What a shame for PTI which is selling choran of PMLN and PPP bashing for last 11 months.
Someone at top must intervene to stop the rise of Dollar rise. Pak Destiny