In a world where the currency has gained popularity for its ability to purchase everything from luxury watches to luxury automobiles, the US dollar’s value has risen exponentially in recent years.
But for many, the rise in the value of the bill has caused a great deal of consternation for some Pakistani fashion design and fashion designers.
A popular Pakistani fashion designer, whose name was withheld due to the sensitive nature of the topic, said the rising value of dollar bills has forced the government to consider raising the purchasing power of the country’s currency.
“I think the government has taken a decision and they have decided that the currency should go up by a little bit,” he said.
“The problem is that the inflation rate is also going up.
The value of USD is about $600.
So if you want to buy something for $600 you have to pay a lot more than if you were to buy it in dollars.
And I think it’s also going to make it more difficult for people to buy goods from the US.”
Nawaz Sharif, who has been a prominent figure in Pakistan’s political spectrum, has spoken out against the currency’s devaluation, calling it a sign of a failed economic policy.
The US president recently visited Pakistan, where the US military has been fighting a war against Taliban insurgents for more than two decades.
Mr Sharif said he had been surprised by the US President’s visit and felt he was “doing a lot of good for the US”.
“He’s the first president who visited the country for so long and is doing a lot for the country,” Mr Sharif said.”[He] has been giving me the same kind of advice that we gave him when we were fighting the war and what he said was ‘don’t give up’.”
But he’s also been giving advice that is not always good for Pakistan, that is really damaging for Pakistan.
“What he’s doing is a sign that he’s not listening to Pakistan.
It’s a sign he’s listening to other countries.
He’s not giving Pakistan any credit for the kind of things we have done for the world.”