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US $ hits over Rs. 200 in interbank

KARACHI: US $ that hit over Rs. 200 barrier at 11am (PST) on Thursday (19th of May, 2022) in interbank trading, is either not available or being sold for over Rs. 200 in open market. 

The lethargic incumbent coalition government failed to harness the three causes behind this rise:

1) Augmenting Import Bill;

2) Augmenting Current Deficit;

3) Vanishing Foreign Exchange Reserves.

It seems that with the burden of previous government is too heavy for the coalition government to bear.

The inevitable hike in petroleum prices and the resultant rise in the prices of commodities would anger the public. They will react in the next elections.

Pak rupee touches 200 against US $

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.