Govt silently watches Pakistani rupee losing like anything

[GURU DUTT]

well pakistan will never be a good economy until there is feudalism there kill and uroot the fedualistick economy and there benifectors onli then pakistan will be able to be mentalli and economicalli free

 

[FCPX]

I still remember when 1 US $ was worth Rs.10 and we used to complain of the unfair exchange rate

More relevant to present times the Pakistan economy lacks depth and independence from foreign donors aka handouts. Add to the mix an incompetent leadership, lack of future planning, terrorism, intolerance, etc. and you can see why its in its current state.

 

[Durrak]

Even staples and the stapler is imported from china.

I wasn't aware about it ...


It might sound harsh but they are the most beghairat leaders .. They should be call sucking parasites ... ... And our misery is that people will blindly trust their each word .. Idiotic divided Qaum parast people ..

 

[[Bregs]]

Peace in country, de control of loss making govt sectors undertaking, FII in energy and infrastructure, are the major issues needs attention and high inflation/ Rs falling makes SBP intervention difficult n meaning less

 

[EagleEyes]

What could be done to avoid this free fall? Like what is the currency dependent on? Imports, exports, foreign reserves?

 

[Raja.Pakistani]

I pound =171/172 RUPEES and never seen such high rate before . Some people who are earning in pounds/dollars happy that they will get more rupees in pakistan but they dont realize that it will increase inflation so you would spend 7 rupees where you were spending 5. IMF gave loans on conditions that pakistan dont put any CAP

 

[karan.1970]

What could be done to avoid this free fall? Like what is the currency dependent on? Imports, exports, foreign reserves?

Its predominantly the import / export imbalance that screwed INR earlier and is now doing the same to PKR

 

[Abu Zolfiqar]

None of the swine-eating countries are in turmoil today.

Its simple; really...

They EAT all their swine, while we ELECT ours.

 

[Raja.Pakistani]

What could be done to avoid this free fall? Like what is the currency dependent on? Imports, exports, foreign reserves?

Yea imports are more than exports. you spend more than what you produce. You dont have stability/security in the region which is important for investment and to run business

 

[Slav Defence]

In 2007 Pakistan has investment of 8 billion rupees,while in 2013,our investment input is even less then half billion.
At this crucial point,The State Bank plans to get 4 billion atleast after IMF deal,in order to pay old ones and to fill the big gap as compared to 2007,so what do you expect now?
We don't have enough investors or investment,we are in-debt of IMF and we are in state of war @Luftwaffe,here is a proof of my statement that how WOT has damaged our economy,as due to WOT,investors are gone and we are at zilch.

 

[ChennaiDude]

hehe,so when are u visiting my college again??

@Ayush....I studied @manipal tooo....Batch of 1994. "Highty Mighty MIT".

 

[Panther 57]

What could be done to avoid this free fall? Like what is the currency dependent on? Imports, exports, foreign reserves?

To control this nose down attitude, first and the foremost thing is to control unrestricted import of items. As a next step flight of dollars out of Pakistan has to be checked. Foreign remittances need to be monitored and hoarding be controlled. State Bank has to say no to federal government for any further loans. It also has to put a stop to over printing of currency.

Principally speaking currency notes in circulation have to be according to gold. This would correlate paper with tangible product. However, US managed to get gold related currency with linkage to dollar, which was inturn linked to gold. Later some countries delinked its currency from dollar and started its valuation with forex reserve available in the country. In such scenario printing of extra currency notes, devalues the currency against other currencies. Pakistans forex are unstable since long and depleting fast. It would be rather more appropriate to say that those are already consumed, what we see is forex in transition giving a false forex position.

Present down fall of rupee against dollar is also due to Hajj season where demand for foreign exchange increased and principle of supply and demand came into action taking the price of dollar high.

In present case you can smell the rat, as State Bank bought at 111 to a dollar. Just after that Central Bank intervened and brought dollar back to 105. Where is that extra 5% gone from State Bank and who has been benefited.

Last but least each time State Bank buys from the market to meet IMF repayment schedule price will go up and not return.

As a nation we all have to act responsibly and see how far in our activities we can save flight of foreign exchange. These politician will never do that, they are here to spend not to save. But if majority of this country stop spending on foreign item and reduce the demand of imported products, it will help in reducing trade deficit. Major portion of this deficit is due to oil import. If people work out concepts of vehicle sharing and reducing use of fuel by avoiding the avoidable. Situation will improve.

I am also of the opinion that our 25% or more fuel is wasted, due to our poor traffic sense and violation of traffic rules. By ensuring clear roads, orderly flow of traffic and abiding by traffic rules at least 25% of overall fuel cost can be reduced. This is altogether a different topic so would leave any further details.

Likewise there as so many little things which we can do to support our ailing economy and falling currency.

 

[Pakistanisage]

Nawaz and Zardari need to bring back their "STOLEN" wealth back to Pakistan and invest in the country to create jobs. Part of the problem is people like these hoard wealth outside the country. Why is it that these Anchors don't ask this question from NS and AAZ and their representatives.

 

[Cyberian]

You guys fret over nothing. Pakistan is poor today as it was poor 65 years ago.

US $1 = 11,455 Indonesian Rupiahs
US $1 = 24,815 Iranian Rials
US $1 = 2,023,600 Turkish Lira

Calm down will you people.

Pakistan's external debt (March 2013): $60 Billion
India's external debt (March 2013): $390 Billion

Pakistan's external debt grows by around $1 billion a year while India's external debt grows by almost a $1 Billion a week ((yes, a week)).

Hosla rakho yaar, hosla.

 

[Raja.Pakistani]

You guys fret over nothing. Pakistan is poor today as it was poor 65 years ago.

US $1 = 11,455 Indonesian Rupiahs
US $1 = 24,815 Iranian Rials
US $1 = 2,023,600 Turkish Lira

Calm down will you people.
.

even 1 US dollar= 99 Japanese yen

But 1 yen is even less than penny in purchasing power in Japan . You may get salary of $4000 per month in USA but it would be 500000(or even more) yen/month if you were in Japan