ashok321
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But India is the most corrupt nation in Asia, more than Pakistan, So?
India Continues To Rank Among Most Corrupt Countries In ... - Forbes
Dollar hits all-time high of Rs118.20
- Thread starter SunilM
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But India is the most corrupt nation in Asia, more than Pakistan, So?
India Continues To Rank Among Most Corrupt Countries In ... - Forbes
newb3e
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i dont care if india is more corrupt all i care about is Pakistan and i see people dying of hunger and are treated like cockroaches!!! i am a Pakistan a patriotic Pakistan and its sad to see what we have become!
boxer_B
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Do you read your own articles or post them by just reading the heading. That's why no one takes you seriously anymore
A score of zero indicates a “highly corrupt” nation while 100 indicates a “very clean”
The CPI awarded India a score of 40, rendering it the 81st most corrupt country in the world.
The poorest performers in South Asia were Sri Lanka (score 38, rank 91), the Maldives (score 33, rank 112), Pakistan (score 32, rank 117) and Bangladesh (score 28, rank 142). . For the first time in four years, China surpassed India, albeit barely, earning a score of 41 and rank of 77.
Baghial
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More dollar smuggled on pvt planes
Nowonder pak rupee is on nose dive like naqaz sharif mian
His Royal Highness, Dar The Incompetent spend billions trying to control the greenback exchange rate. Munshi by profession and a moron by nature. Good thing the PKR is floating towards its rightful place. Let imports be expensive and exports be lucrative.
aman_rai0007
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He is a troll Elite member... Famous for his trolling nature
PurpleStone
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Good for Pakistani exports.
my2cents
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It has been a long ride for low interest loans in US. Now the rates are inching up. It will put lot of pressure on other world currencies.
Rupee weakens to over Rs119 against dollar in open market as panic buying continues
KARACHI:
The open market continued to remain in the grip of panic buying as the currency weakened to as much as Rs119.5 against the US dollar, two days after the central bank held an “emergency meeting” with dealers to keep the gap with the inter-bank rate as low as possible.
Overheating of the US dollar forced currency dealers on Wednesday to grab a chair and table to chalk out a way forward in a bid to meet objectives of the State Bank of Pakistan (SBP). The foreign currency dealers’ association reported that the rupee hit a new intra-day high of Rs119.50 on Wednesday. It closed at Rs119.30, according to forex.pk.
In the attempt to tackle the ongoing slide in the rupee, the foreign currency dealers’ representative body, the Forex Association of Pakistan, has said in a press statement that it has decided to sell the dollar at a fixed price to be determined three times (10am, 12pm and 4pm) on each day.
No need to devalue rupee again, says Miftah Ismail
The pricing mechanism may help currency dealers implement the SBP directives of narrowing down the gap, which has currently gone beyond 3.2%.
Accordingly, they have determined the first fixed price of the dollar of Rs118.70, which would remain applicable till the association announces a new one at 10am on Thursday.
“The fixed dollar price would be determined keeping in view the demand and supply mechanism of the dollar (at open market),” it said.
The association’s president Malik Bostan, who chaired the meeting, said those currency dealers who choose to sell dollars at their own prices would be punished with a penalty of Rs100,000 for violating the new rule.
If a currency dealer violates the rule for the second time, it would be charged Rs200,000. An amount of Rs500,000 would be charged for a third-time violation. “If any dealer is found violating the rule for the fourth time then the complaint would be lodged with the SBP … all members have developed consensus upon the decision,” he said.
Bostan said he briefed SBP Executive Director Syed Irfan Ali Shah regarding the widening gap between rising demand and shrinking supply of the dollars in the open market before convening the dealers’ meeting.
Budget 2018-19: What bold steps should you expect to see this year
“We can control the price if the SBP (additionally) pumps dollars into the open market,” he said. Dealers said demand has continued to increase on assumption that the government would opt for a third round of rupee devaluation.
The SBP has already devalued the rupee by over 9.5% in the last four months.
Speculative buying has, however, continued despite Adviser to Prime Minister on Finance Miftah Ismail categorically stating that the government was done devaluing the rupee, as the currency had found its equilibrium.
Published in The Express Tribune, April 26th, 2018.
https://tribune.com.pk/story/169528...19-dollar-open-market-panic-buying-continues/
KARACHI:
The open market continued to remain in the grip of panic buying as the currency weakened to as much as Rs119.5 against the US dollar, two days after the central bank held an “emergency meeting” with dealers to keep the gap with the inter-bank rate as low as possible.
Overheating of the US dollar forced currency dealers on Wednesday to grab a chair and table to chalk out a way forward in a bid to meet objectives of the State Bank of Pakistan (SBP). The foreign currency dealers’ association reported that the rupee hit a new intra-day high of Rs119.50 on Wednesday. It closed at Rs119.30, according to forex.pk.
In the attempt to tackle the ongoing slide in the rupee, the foreign currency dealers’ representative body, the Forex Association of Pakistan, has said in a press statement that it has decided to sell the dollar at a fixed price to be determined three times (10am, 12pm and 4pm) on each day.
No need to devalue rupee again, says Miftah Ismail
The pricing mechanism may help currency dealers implement the SBP directives of narrowing down the gap, which has currently gone beyond 3.2%.
Accordingly, they have determined the first fixed price of the dollar of Rs118.70, which would remain applicable till the association announces a new one at 10am on Thursday.
“The fixed dollar price would be determined keeping in view the demand and supply mechanism of the dollar (at open market),” it said.
The association’s president Malik Bostan, who chaired the meeting, said those currency dealers who choose to sell dollars at their own prices would be punished with a penalty of Rs100,000 for violating the new rule.
If a currency dealer violates the rule for the second time, it would be charged Rs200,000. An amount of Rs500,000 would be charged for a third-time violation. “If any dealer is found violating the rule for the fourth time then the complaint would be lodged with the SBP … all members have developed consensus upon the decision,” he said.
Bostan said he briefed SBP Executive Director Syed Irfan Ali Shah regarding the widening gap between rising demand and shrinking supply of the dollars in the open market before convening the dealers’ meeting.
Budget 2018-19: What bold steps should you expect to see this year
“We can control the price if the SBP (additionally) pumps dollars into the open market,” he said. Dealers said demand has continued to increase on assumption that the government would opt for a third round of rupee devaluation.
The SBP has already devalued the rupee by over 9.5% in the last four months.
Speculative buying has, however, continued despite Adviser to Prime Minister on Finance Miftah Ismail categorically stating that the government was done devaluing the rupee, as the currency had found its equilibrium.
Published in The Express Tribune, April 26th, 2018.
https://tribune.com.pk/story/169528...19-dollar-open-market-panic-buying-continues/
Turingsage
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You fool. That only means that the Pakistani rupee is twice as good as Indian rupee. You should educate yourself about economics from PDF. We have real geniuses here who would gladly help you understand.
.
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The economy is fucked .
I don’t understand how we pay IMF and Chinese at same time world bank etc .
CPEC is a death blow for local economy in the country hence we saw a great trade deficit in the starting phase of CPEC till 2017.
Now I got no hopes for a economy surviving on corrupt world banking system held hostage by a foreign nation .
I don’t understand how we pay IMF and Chinese at same time world bank etc .
CPEC is a death blow for local economy in the country hence we saw a great trade deficit in the starting phase of CPEC till 2017.
Now I got no hopes for a economy surviving on corrupt world banking system held hostage by a foreign nation .
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