Dollar slides 2.25 rs and settles at 144 rs after government decides to crack down on Exchangers

[pkuser2k12]

Dollar slides 2.25 rs and settles at 144 rs after government decides to crack down on Exchangers


After jumping to 146 rs Dollar slides to 144 rs with in two hours


15-05-2019​

https://twitter.com/x/status/1128735616382976001

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[Jf Thunder]

I never thought that the dollar could come down.

 

[zulu]

Jab tak govt private money changers ko band naih karti not regulation i mean band kar daina currency smuggling jaari rahy gii iss mulk sy

 

[maithil]

Imagine state not having any control over this. IMF will hit economy hard.

 

[pkuser2k12]

I never thought that the dollar could come down.

Only way to control dollar price is to go against the exchanger mafia similarly medicine mafia

I think these two should be top priority . Government will get shocked for a time being but this time government should "twist" them and not be lenient

This has to stop

 

[Imran Khan]

kya harami nassal ke brokers hain apny mulk jis ka khaty hain uski currency ko tabah ker rahy hain . perfect example of snakes

 

[Verve]

Jab tak govt private money changers ko band naih karti not regulation i mean band kar daina currency smuggling jaari rahy gii iss mulk sy

This is a must.

But at least today's stance was a strong one that 'no more or you will be shut down'.

 

[TechMan]

We have a plethora of money exchange companies here, is this the norm in other countries in the world? What about India? Do they have money exchange companies like this or the people there can only get foreign currency from banks?

 

[zulu]

Sir yeh dikhany waly kaam tu hamesha ki story kuch din baad wapas start ho jana hai.Why not only banks allowed to do it set system.On that matter i m saying with experience of 20 years plus knowledge.They totally start and set mechanism of alternate,un documented black economy without them whole system gonna collapse.

This is a must.

But at least today's stance was a strong one that 'no more or you will be shut down'.

 

[sparten]

I never thought that the dollar could come down.

Don't look at open market trading, look at interbank rates. Those are generally a much better indicator. This was speculators. (and idiots who thought it was going to go up and up).
I susepct in a few months it might fall further. The current rate is pretty low.

 

[VCheng]

Imagine state not having any control over this. IMF will hit economy hard.

Actually, it is the brainless meddling with the exchange rate by the State in violation of basic fiscal principles that created this situation in the first place. Implementing the IMF's advice about allowing the market to set the exchange rate is a good thing for the economy.

 

[Gorgin Khan]

We have a plethora of money exchange companies here, is this the norm in other countries in the world? What about India? Do they have money exchange companies like this or the people there can only get foreign currency from banks?

The problem is not the exchange companies, the problem is in the implementation of policies and regulations. But unfortunately our banks has also a strong role in these scandals.... Now if we have to overlook it and go after finding solution without diagnosing all the root causes,,,, The dream of transparency will only remain a dream... Sub Ganday hain is khel main....

 

[Verve]

Sir yeh dikhany waly kaam tu hamesha ki story kuch din baad wapas start ho jana hai.Why not only banks allowed to do it set system.On that matter i m saying with experience of 20 years plus knowledge.They totally start and set mechanism of alternate,un documented black economy without them whole system gonna collapse.

Will exchange go underground? If it does, there will no new cash $ to exchange though, unless payments for exports come via money laundering.

Ban should be on cash exchange.

 

[H!TchHiker]

It was speculative in nature as difference between Inter-bank and Open market was quite unrealistic..Since conditions of IMF will apply after installment i believe dollar will rise gradually and then as per agreement with IMF government can't interfere or SBP can't sell dollars to control the rate ...common people having savings in PKR will convert it into dollar gradually in this period to save some of there savings in real term...

 

[El Sidd]

Who made the money during this scheme of up and down?