Today 2 December 2018 dollar rate in Pakistan open market is :
| Buying | Selling |
| 135.7 | 139.5 |
According to Dawn news "the IMF was asking the government to bring rupee value at Rs145 per dollar and the interest rate at 10.5 percent as a precondition for a bailout package". It seems that the government is complying with the IMF's demands. But Asad Umer (Federal Minister for Finance) said we will not agree with IMF if the terms will not benefit Pakistan. If he said that then why the dollar rates are so, high. Now we are paying more money for imports. Pakistan import is 48.1B $ by increasing dollar rates we have to pay more Its mean now the inflation will also increase.
Is there any benefit in increasing dollar rate and devalued the local currency?
My opinion is 'Yes'. As I said Pakistani import is 48.1B $ and the export is only 24.2B $. It's very bad for Pakistan. Pakistan is spending dollars more on imports. Increase in dollar rates is better for people who export things now they will get more money in local currency. And on other side increase in dollar rates will be a burden for people who import things. they have to pay more for import. The rates will high for only imported things. Now people will prefer locally made things and the companies that rely only on import they will also think to make things locally. As the government provides ease of doing business. Now It's a very good platform in Pakistan for doing business. As the Prime minister of Pakistan Imran Khan said many times in their speeches there will be a good time after a hard time. Now the hard time only for people not for investors.
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