Karachi: Due to the increase in American currency demand Pakistan rupee is observing the serious devaluation. On Wednesday the American Dollar has reached on its peak. Exchange companies association of Pakistan Chairman Haji Haroon said that on the constant increase in demand of the American dollar in Pakistan is the result of rupee downfall.
In the open market Dollar gained about 90 Paisa increase and stands on 93.50 whereas in the inter market Dollar stands on 92.10. The recent rise in dollar will bring more inflation in the country.
This will hurt the Pakistani exports and imports as well it will get more expensive. In the former President Pervez Musharraf era the Pakistani rupee against the dollar was very stable. The US dollar was equal to about 60 to 61 rupees.
Its look like that this Government has no good economic policy for the betterment of trade in Pakistan. The present Government is responsible for all the devaluation of the rupee because of the poor trade and commerce policy.