ISLAMABAD: The damaged economy of the nation will stumble into 2023 as the bells for another new year ring with a dismal record of the rupee’s decline against the US dollar.
The total value of the Pakistani rupee declined by Rs48.38 versus the US dollar in 2022 as a result of the government’s struggles with expensive import payments, diminishing foreign exchange reserves, and unrest in the political system.
The government tried to maintain a firm hand on the economy’s wheel and even went so far as to change its economic czar changing its horses in the middle of the race to halt the oncoming catastrophe of default but the currency nevertheless saw repeated record lows.
In addition, despite the severe challenges to its economy, Afghanistan’s currency looked to be performing pretty well at one point. The Pakistani rupee, meanwhile, was one of the worst-performing currencies on the international market.