As you may have heard, the dollar this year has not been very kind to us Pakistanis.
Because of this, the International Monetary Fund struck a bailout deal with the Pakistani Government, in order to prohibit devaluation as much as possible.
The $6 billion deal promised to maintain and monitor the exchange rate, posing it as a free-floating rate so that in essence, the dollar rate would not drive us all crazy with it’s constantly increasing price. Unfortunately, that hope did not last long.
Days after the deal was made, the Dollar just hit an all-time high and now, Pakistanis are PISSED.
— مسعود گجر (@GujjarBawaG) May 16, 2019
The Dollar now sits nice and pricey at 147 rupees which is an absolutely staggering number. Pakistanis all over the world are absolutely flipping out by seeing such a quick and drastic change in our currency. Suffice to say, they are not happy.
— Minhaj Barya (@minhajbarya) May 16, 2019
— Muzzammal Sultan (@muzzammalsultan) May 16, 2019
"It's the economy, stupid."
PTI has badly ruined the economy of Pakistan.
Niazi didn't committ suicide but he has murdered the economy of Pakistan
Dollar hits historical high of Rs148#Dollar #NayaPakistan #PTIMF#IMFKhan #TabdeeliSarkar #GoNiaziGo
— Majid Ali Zardari (@MajidAliZardari) May 16, 2019
Many are looking to ‘Naya Pakistan,’ for answers.
@ImranKhanPTI When is the time for your slogan to die, "ghabrana ni hai"!!
Do u even realize how this devaluation of PKR against USD will impact the masses, especially the poor ones? #Dollar #NayaPakistan #Currency
— Bilal Iftikhar (@BilalIf98822625) May 16, 2019
A nightmare #NayaPakistan
— Ahmad Ali Yousafzai (@ahmad_usafzai) May 16, 2019
Imran Khan is acting like the Ami who tells kids koi baat nahi main permission lekar deti hun bahir janey ki but secretly has made deal with Abbu that Kids are not going anywhere.
— Bushra Joyo-Gandhi (@filmyjoyo) May 16, 2019
This is quite an alarming situation and it is difficult to say where we and the rupee go from here. If a deal with the IMF fell through so quickly, where do our feasible options actually lie?
— 𝕎𝕒𝕝𝕖𝕖𝕕 𝕋𝕒𝕣𝕚𝕢 𝕊𝕖𝕥𝕙𝕚 (@WTSethi) May 16, 2019
Let’s hope Immy K can pull some kind of trick out of his hat and change the situation sooner rather than later. Have you seen the conversation? What do you think about the dollar’s new price tag? Let us know what you think in the comments below. Love you.
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Cover photo source: FX Street/Khaleej Times