Dollar Rate in Pakistan increased by Rs 104.54 in 16-month PDM government

Economic PerformanceDollar Rate in Pakistan increased by Rs 104.54 in 16-month PDM government

By Mati Ullah Khan

ISLAMABAD, Pakistan: Finally, the self-imposed 16-month long rule of the government of multi-party alliance Pakistan Democratic Movement (PDM) in Pakistan was over last night, leaving a skewed legacy in almost spheres of life.

The irreparable catastrophe the PDM government caused to the national economy and the immeasurable people’s sufferings were hallmark of their incompetence and tainted politics.Dollar Rate in Pakistan increased by Rs 104.54 in 16-month PDM government

Dollar Rate in Pakistan increased by Rs 104.54 in 16-month PDM government
Source: State Bank of Pakistan

The President of Pakistan Muslim League-Nawaz (PML-N) Shahbaz Sharif occupied the helm of the Country on April 11, 2022 with the US Dollar (USD) trading at Rs 182.92 in the Interbank Market. By the time, they ended their tenure on August 09, 2023, the dollar had reached Rs 287.46.

Dollar Rate in Pakistan increased by Rs 104.54 in 16-month PDM government
Source: State Bank of Pakistan

In just the 16-month long tenure of Shahbaz Sharif-led government, the Pakistani Rupee (PKR) depreciated by 36.36 percent, leading the inflation to an all-time high level.

It’s worth mentioning that the former Federal Minister for Finance and Revenue Ishaq Dar after he assumed the Office on September 28, 2022 claimed to bring the dollar rate under Rs 200 within days which would help alleviate the skyrocketing inflation as well.

However, his boasting claims turned out to be nothing but a shallow slogan like what his boss Shahbaz Sharif had opted to raise after he became the prime minister that he would fix the economy within six months.

Dollar Rate in Pakistan in PDM government (Interbank Market)

Currency Exchange
Date
Rate
Increase in Rupee term
US dollar appreciation
Pak rupee depreciation
PKR/USDApril 11, 2022Rs 182.92Rs 104.5457.15%36.36%
PKR/USDAugust 09, 2023Rs 287.46

Whereas in the Pakistan Tehreek-e-Insaf (PTI) government spanning over 44 months from August 18, 2018 to April 10, 2022, the US dollar rate soared to Rs 184.68 from 124.24 in the Interbank Market.

Dollar Rate in Pakistan in PTI government (Interbank Market)

Currency Exchange
Date
Rate
Increase in Rupee term
US dollar appreciation
Pak rupee depreciation
PKR/USDAugust 20, 2018Rs 124.24Rs 60.4448.64%32.72%
PKR/USDApril 08, 2022Rs 184.68
Dollar Rate in Pakistan increased by Rs 104.54 in 16-month PDM government
Source: State Bank of Pakistan
Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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