It has taken quite some time to bring Pakistan out of complete economic crisis though situation is not completely better at the moment. As a result, price of fuel and other amenities went up. When the value of Pakistani rupee went down, our currency exchange rates took quite a drastic turn due to which a lot of money had to be paid on the import of goods and our exports were being sold at lower prices. In the past, the lawyers’ movement and Pakistan’s political instability has done quite some damage to its overall performance in every sector. This situation can be tackled if there are good economic and financial relations between Pakistan and USA for which government of Pakistan is making quite a noticeable effort. Looking back at the history of exchange rates between Pakistani Rupee and United States Dollar, a record low rate of 18.60 was touched by US Dollar in December of 1988 and anticipating from how relations between Pakistan and America remain, Dollar would keep on increasing in price. Since economic and financial stability in our country is still a work under progress, Pakistani Rupee to United States Dollar exchange rate is quite massive. Our economic and financial growth has a very strong impact on the stability of Pakistani Rupee. Pakistani Rupee has never been a very well anchored currency.
Dollar is the currency of choice in many countries because it is well estimated that it would never devalue and there won’t be excessive dollar supply in markets. Many international banks tend to keep US $ in larger quantities to pay off debts, to make investments, to conduct transactions and to have an impact on their local exchange rate as well. Before twentieth century, British Pound was the most secure, valuable and purchased currency but since twentieth century this title has been snatched by US Dollar. Unites States dollar is considered one of the strongest currencies in the world. Today Dollar Rate in Pakistan is Rs: 227.9 Date
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