Federal Budget

US dollar rises around Rs 148.25 in 23 years

US dollar rises around Rs 148.25 in 23 years

Business

US dollar rises around Rs 148.25 in 23 years

KARACHI (Dunya News) – During the last 23 years, the value of the rupee against the dollar increased by Rs 148.25.

The devaluation of the rupee against the US dollar has been going on for many years now. On October 12, 1999, when Pervez Musharraf took over, the dollar was trading at Rs 51.75. It was trading at Rs 61.18 after a decrease of 15 percent or Rs 9.43.

During the tenure of PPP government after Pervez Musharraf, the dollar was at Rs 62.22 which rose to Rs 98.22 till March 24, 2013. Thus, during the PPP regime, the rupee depreciated by 37% or Rs 36.

The depreciation of the rupee could not be stopped even in the PML-N government. When the PML-N took over the reins of the country on June 5, 2013, the value of the dollar at that time was Rs 98.51 to Rs 115.61 till June 1, 2018. Thus, during the PML-N era, the rupee depreciated by 15% or Rs 17.10.

On the other hand, the dollar was trading at Rs 124.4 and touched Rs184.68 during the tenure of PTI government.

The Shahbaz Sharif government took over the reins of the country on April 11, 2022. At that time, the value of the dollar was Rs 182.92, but in just 38 days, the value of the rupee against the dollar decreased by 8.5 percent or Rs 17.8. The dollar is now trading above the all-time high of Rs 200.