What a leap it is! Hi everyone, this is me, The Strong USA Dollar, which has taken the huge plunge to an interbank rate of 210.3 Pakistani rupees till the writing of this article. The curious minds worldwide are scratching their scalps hard to find out whether the plunge will be higher in the coming days than the current one or not? Well, fingers are crossed till new updates.
With the economic crisis ongoing in South Asian countries like Sri Lanka, the odds don’t seem to be in favour this time. The impacts will be hard and harsh for many struggling economies worldwide. The poor ones would surely be going to hit rock bottom.
Well, I was very much stable till February 2022. But, then the unfortunate war in Ukraine filled the world stage with many uncertainties. With the political ground heated up, I was also dragged along. As the two greatest powers brought their differences to the forefront, many struggling economies went down the deep well of the ensuing economic crisis—the most affected in South Asia.
Inflation became rampant in countries like Pakistan and India. Foreign currency exchanges started to dwindle. Unemployment ensued. The governments began making the harshest decisions to save their respective economies from falling headlong. Take the example of Pakistan, where petrol prices were raised three times consecutively within a month. Well, I am sorry for that; that is how it works. Right?
International Monetary Fund, famously known as IMF, is my guardian angel. It tries to save the countries facing financial issues by providing them with easy and pleasant bailouts, but not without imposing the interest rate. It has saved many countries multiple times from falling. Who can forget the famous “2010 bailout package.” In short, IMF helps me keep my steady flight.
Moreover, I expect the loaning countries to take strict austerity measures to keep pace with my worth. For that purpose, they have to make very tough decisions. Say, for example, raise the price of everyday commodities like electricity. That is the reason people hate me for my worth. I am the boss here!
Moreover, many are asking whether I would remain like this in future also. Well, I am too uncertain right now. My current exchange rate against the rupee is approximate 212.26. It is going to depend on the world economic powers. If they could live peacefully, I’ll not bother any economy. But if they prefer war and chaos, the result is in front of the world. I’ll try to fly as high as possible so that no one would dare involve me in this mess. I am too tired now!
Overall, if asked about my personal opinion, I am a staunch opponent of any instability and uncertainty. I support soft exchanges among the world economies. I request the world powers to behave! Let the poor rupee find some peace. It is so tired of chasing me. Let us be friends and live amicably.
I wouldn’t say I like goodbyes because I love to remain alive in the news. Don’t forget me then. Goodbye for now! We will meet in new bailout news soon!