If we compare the rates of dollar rise in Pakistan in the past few years, then the current rise in the dollar has broken all the records. Yes, you have heard it right! The dollar has reached the record high of around 134 rupees that is recorded to be the highest in the Pakistan history for sure.
As ever since the start of 2018, the exchange rate has been adding with so much of the fluctuations from the stages of high to low and then again from low to high. Now it has been concluded that the Pakistan rupee has fallen to the amount of 134 rupees and this has been mentioned to be one of the lowest in the history of Pakistan ever.
Will Rise in Dollar Effect Pakistan Economy?
As it has investigated around that the rupee has in respect with the US dollar and this will be resulting as it will jolt the whole of the economy of Pakistan for sure. It would also be showing some set of the massive effect on the local automotive industry as well.
As Pakistan is known out to be the import-based economy country, the rise over the dollar range hence, will means that the cost of import will increase as well. This will be adding a massive dent in the import sector of Pakistan too. It would hence also promote up with the fuel inflation that is all the more affecting on with the areas of the food all along with the transportation and even the auto sector too.
As similar to so many of the other sectors, the effect over the fallen rate in the rupees has been somehow much felt when the local side of the automakers will increase the car prices that are all following up with the depreciation in the rupee.
High Effect on Import Sector with an increase in Dollar:
As per according to the reports, the rising factor in the dollar will be bringing much of the effects of the import parts too. Hence the parts that have been all the more imported would be charging or cost more, and thus this would be increasing on with the cost of the manufacturing. It is for the reason that automakers left with no individual choice but to raise the ex-factory prices.
From 110 rupees in January 2018 to the rate of 134 rupees in October, the exchange rate has somehow on the whole increased by 21% in total. By this result, a small analysis has done about how the car prices will go up high as the dollar has started to increase away in January. It has been all following up with the estimation in the car prices category until December 2018. Local automakers will raise the prices over the cars as once again.
