Tag: pakistani rupee all time low

  • ‘IMF side eyeing’: the opening of Tim Horton’s in Lahore has launched hilarious memes on Twitter

    ‘IMF side eyeing’: the opening of Tim Horton’s in Lahore has launched hilarious memes on Twitter

    Did we miss anything that happened this weekend? Was it something really big? *chuckles nervously*

    It turns out kay chahe mulk mein dollar khatam ho jaain, petrol na ho aur choola bhee na jallay, Lahore phir bhee Lahore hai. If Lahoris want coffee, then they will get coffee.

    Canadian cafe chain Tim Hortons should allow business students to study their launch in Pakistan because in the midst of an economic recession, they launched their coffee shop at phase 6 in DHA.

    As it turned out, Lahoris decided to take their hospitality to the fifth gear and welcomed the new chain with a long line outside its doors. Throngs of customers waited for four hours to get a taste.

    What do the rest of us struggling with the prices of onions and petrol do in these times without tasting French Vanilla coffee? Laugh at hilarious memes on Twitter.

    Seriously tho

    https://twitter.com/yesindeeder/status/1624842233269608448?s=20&t=pGTXgLO3cVRpoXtPDkE-fg

    But chalo yaar it was for coffee, let it slide pls pls

    But in the end, Lahoris know how to have fun. Just pray it doesn’t involve a Rs 700 cup of coffee.

  • Pakistani rupee fell by 34 per cent in FY 2021-22: Report

    Pakistani rupee fell by 34 per cent in FY 2021-22: Report

    Pakistan’s fiscal year starts on July 1st and ends on June 30th. The rupee to US dollar exchange rate was Rs158.06 at the beginning of fiscal year 2021-2022, and it reached an all-time high of Rs212.103 in the inter-bank market on June 21, 2022. This represents a depreciation of more than 34 per cent in less than a year.

    The graph below demonstrates how the PKR to USD exchange rate varied over time:

    During the fiscal year 2020-2021, the local currency plunged 17.47 per cent from Rs158.062 to Rs184.159 in 9 months, from July 1, 2022 to April 11, 2022, under the PTI regime. Since PDM took over, the rupee has lost nearly 14.31 per cent of its value in just three months.

    The table below compares PKR to dollar values over time, as well as the government in power at the time:

      PKR to Dollar Government
    July 2021 158.062 PTI
    August 2021 162.571 PTI
    September 2021 166.872 PTI
    October 2021 170.997 PTI
    November 2021 170.92 PTI
    December 2021 176.042 PTI
    January 2022 176.214 PTI
    February 2022 176.736 PTI
    March 2022 177.573 PTI
    April 2022 184.159 PTI and PDM
    May 2022 185.794 PDM
    June 2022 197.744 PDM
    June 23 2022 207.516 PDM

    Dollar demand remains strong in the market, pushing the greenback’s value higher against the rupee. The local currency is likely to remain volatile until the IMF agrees to disburse the next tranche of loans to Pakistan.