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Pak Rupee drops to a historic low

KARACHI: Due to prevailing political turmoil and incumbent coalition government’s inaction the Pakistani Rupee continues to drop.

On Thursday (28th of July, 2022) Pakistani Rupee again dropped to a historic low and was trading at 240.5 against the US$ in the inter-bank.

It may be recalled that coalition government took charge in the second week of April 2022 and since then US Dollars appreciated Rs. 51 (i.e: 28pc or Rs51).

Nevertheless, the Finance Minster attempts to salvage the government by saying that state of affairs would ameliorate in the coming weeks.

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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.