Dollar will be 255 now in pakistan?

[maithil]

https://twitter.com/x/status/1618161009939841024

They are still not letting market forces determine the real value .Even after so much destruction. This won't end well..

 

[AZ1]

https://twitter.com/x/status/1618189337421832193

 

[epebble]

https://twitter.com/x/status/1618189337421832193

It is scary when the Central Bank Governor is in such panic that he can't tell his face from his behind.

 

[epebble]

Dollars travel from USA to Pakistan via official channels. Now black marketers have connections among corrupt employees at currency exchange companies. They buy USD at official rate of Rs. 230, give Rs. 20 (for eg) as commission to the corrupt officials and then sell at Rs. 290 to Rs. 300.

The entire amount is not the black marketers profit margin though. He has to pay corrupt border officials/small time politicians too.

I think I am not understanding your explanation. if you say 'official channels' from U.S. to Pakistan, then it becomes interbank money and will get interbank rate. Once it reaches a Pakistan bank, it can't be taken out illegally due to all the FATF regulations that Pakistan has implemented recently. So, the money has to travel outside the banking channel. Like, someone carrying cash in a suitcase and paying the customs officials a bribe to look away.

 

[epebble]

Let's see what facts we have based on news reports:

- Dollars are being smuggled into Afghanistan
- Now this is quoted as one of the reasons for Pakistani dollar reserves falling

Above can happen only if official channels are involved. This is NOT Hawala transfer. After all, dollars entering Pakistan through Hawala channels will not show up in reserves.

You can take out dollars from official channels (at official rates) if you fake import bills. But it is possible to do only with connivance of people involved in forex exchange (customs, bureaucrats, banks, exchange employees etc)

Frankly, this is all too complicated for my brain. I was thinking there is a layer of laissez-faire (free market) in the middle of all the regulation. But, once you add criminal elements to it, it is beyond comprehension.

 

[AZ1]

yesterda its 242 then in exchange rate would be 244.

so gradually it will go up to 255 today 243 so i guess 245 is the exchange rate and

 

[Riz]

Keeping cap mean daar will dump more reserves in open market from where he will get huge commission from currency exchange companies

 

[AZ1]

https://twitter.com/x/status/1618492202740748289

currently now 246 and from exchange rate its about 248

 

[AZ1]

https://twitter.com/x/status/1618509660306419713

 

[Dalit]

Bajwa strolling in his tracksuit...

 

[Riz]

Bajwa strolling in his tracksuit...

 

[hydrabadi_arab]

Finally, Dar peg is broken for now

 

[RIP Pak LAW]

Well as per Khaki mafia :

 

[hydrabadi_arab]

Mini budget, new inflation bomb is about to be dropped.

 

[AZ1]

https://twitter.com/x/status/1618581437858598912