the prove of PAKISTANI CURRENCY devaluation (each passing day)
Devaluation is a decision that makes a currency lose value. Let's look at the most common types of devaluation and what makes governments implement them. External devaluation. When a country's production costs are high, its goods and services become more expensive abroad than its competitors' and lose competitiveness
With the government struggling with high import payments, depleting foreign exchange reserves and political uncertainty, the overall value of the Pakistani rupee depreciated by Rs48.38 against the greenback in 2022.
The currency suffered repeated historic lows despite the government trying to keep a steady hand on the wheel of the economy and even went so far as to replace its economic czar — changing its horses in the midstream to arrest the looming crisis of default.
Moreover, at one point, the currency of war-ravaged Afghanistan appeared to be doing reasonably well given the strong headwinds that buffeted its economy. Meanwhile, the Pakistani rupee ranked among the worst-performing currencies in the global market.
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