We dug into 50 years of data of the State Bank to find out how the exchange rates corelate to the changes in the dollar reserves over time and the role of IMF loans in driving these rates. We tried to make this historical data engaging with the help of graphics and animation of 58 seconds.
Common people are unaware of how exchange rates correlate to the changes in the dollar reserves over time and the role of IMF loans in driving these rates. They don’t dig deep into historical data. This project allowed the audience to determine the relationship between dollar reserves, IMF loans and exchange rates in Pakistan with very user-friendly data, letting them compare all three at the same period. This allowed them to have a better knowledge of their own country.
Microsoft Excel, Google Sheets, Official websites, Adobe Photoshop and Adobe After Effects were used in this project.
First, entire historical data was collected and downloaded from the Pakistan Bureau of Statistics website.
This data was arranged together in a single unit on Microsoft Excel. Graphics were made on Abode Photoshop and animated on Adobe After Effects.
What was the hardest part of this project?
The biggest challenge was to convert the 50 years data of three different variables into a short animated video while showing all three units at the same time for the same period. Another hard part was to collect data because it was very time consuming.
It should be selected because we have never come across such a piece of data journalism piece which helps the viewers understand the relation between three different variables which affects the economy.
What can others learn from this project?
Other journalists can learn from this project that any complex data can be made visually strong if some thought is put into it. Making data visually strong makes it easy for the viewers to understand the complex information quickly and making them understand this data is the journalists’ responsibility.