Karachi: The Pakistani economy is currently breathing a sigh of relief as the US Dollar maintains a relatively stable position. As of today, the US Dollar is seeing a Buying rate of Rs. 280.25 and a Selling rate of Rs. 282.2. This stability is playing a crucial role in managing the cost of imported raw materials for our local industries.
As the government is focusing on a 3.75%–4.75% GDP growth, the steady greenback is helping in keeping the prices of essential commodities like fuel and cooking oil under control. Local manufacturers are currently finding it easier to plan their production cycles without the constant fear of sudden currency devaluation. The narrowing current account deficit is further supporting this trend, ensuring that the Rupee is not facing the aggressive pressure it saw in previous years. We are witnessing a phase where fiscal consolidation is finally translating into a predictable exchange environment for the common man.
