Dollar hits all-time high of Rs118.20

[SunilM]

KARACHI: Devaluation of local currency against the US dollar continued in the open market on Saturday as the greenback hit an all-time high of Rs118.20.

Currency dealers said the dollar was not easily available since its demand was very high, particularly after the government barred property deals without accompanying disclosure on source of income.

Till Friday the inter-bank market remained unchanged at Rs115.65 with dealers saying the State Bank kept a watchful eye.

Over the past four months the rupee has been devalued by 9.5 per cent (official devaluation indicated in the inter-bank market).

“Let us see what happens on Monday. If the dollar goes further high we would request the State Bank to supply dollars that could strengthen the market,” said Forex Association of Pakistan president Malik Bostan.

Published in Dawn, April 22nd, 2018

https://www.dawn.com/news/1403103/dollar-hits-all-time-high-of-rs11820

 

[Imran Khan]

great news less money to pay for my pending 6 installments

 

[SunilM]

great news less money to pay for my pending 6 installments

Congratulations.

 

[Novice09]

Dollar is getting stronger against most of the currencies... but the rate at which Pakistani rupee is depriciating is alarming... specially in their current economic situation...

Even INR is at 66+ from 64 at the beginning of this week...

 

[ashok321]

Silver lining = More exports for Pakistan

 

[Skull and Bones]

Congrats, more profit on exports. Time to dig up those trillion dollar mines.

 

[AyanRay]

Dollar is getting stronger against most of the currencies... but the rate at which Pakistani rupee is depriciating is alarming... specially in their current economic situation...

Even INR is at 66+ from 64 at the beginning of this week...

The difference is India was purchasing dollars to keep its currency weak while Pakistan was selling to keep its currency strong. Seems like both failed to achieve its objectives.

 

[U-571]

establishment has given so much to pakistan

thank you raheel shareef

why not take credit for this as for everything else you do?

 

[Novice09]

establishment has given so much to pakistan

thank you raheel shareef

why not take credit for this as for everything else you do?

Bcos
Accha accha mera...
Ganda ganda tera...

Good is mine...
Bad is yours...

 

[Samlee]

establishment has given so much to pakistan

thank you raheel shareef

why not take credit for this as for everything else you do?

Are You Stupid Or Something???????What Has Raheel Shareef Got To Do This With???? This Or Are You Still Sore That He Took Out Your Pet Dogs TTP

 

[Shah Khalid]

Congratulations.

Thank you now tell me did you start getting cash in your ATMs?????

 

[El Sidd]

125 tak jaega

 

[newb3e]

125 tak jaega

insha Allah

Silver lining = More exports for Pakistan

well for that we need energy and as for our exports our biggest export is Textile and 60% of textile industry is dependent on Imports so i dont see Pakistan gaining much from exports or be competitive in exports market even after devaluation.

 

[ashok321]

insha Allah


well for that we need energy and as for our exports our biggest export is Textile and 60% of textile industry is dependent on Imports so i dont see Pakistan gaining much from exports or be competitive in exports market even after devaluation.

CPEC is working in full swing.

 

[newb3e]

CPEC is working in full swing.

i doubt we will gain much from CPEC as in people of Pakistan will gain much from it yes we will get good roads etc but corruption will make generals politicians rich! if only we had honest people working for Pakistan and people and not self interest CPec has potential to transform Pakistan!