Pakistan Rupee now at Rs 125.5 to a US dollar in Interbank Market

[Sine Nomine]

holy shit no one told me........ i just sent the 111 brigade on poondi checks

You are demoted 2 steps for being uninformed,and
You are permanently out of Direct Action committee.
I don't trust them,this time i would bet on President's Bodyguards.

 

[SunilM]

No I am not arguing for the sake of Argument. This is basic economics. China purposely devalued their currency for ages to gain their current economy. Remember the time people use to say that this is made in China and now every thing is made in China.

@Major Sam here is what I am saying please read

China's currency devaluation is just getting started

http://www.businessinsider.com/china-currency-devaluation-just-getting-started-2016-2


CPEC needs a production based economy and currency going down is important for it.


Afghan Currency is higher than ours so does it makes Afghanistan a bigger economy? NO. Low value is good for us.

The chinese currency depriciation is a tool they use in their trade war with US. For gods sake just because they are your iron brother does not mean you start comparing your economy to theirs. Khuda ka khauf hai ki nahi?

 

[Sine Nomine]

Exactly... Har banda 21 grade ka philosopher laga hota hay public forums par.

Econmey ke Alf Bay ka bhe pata hou tou theek hai,if forum par har cheez kai experts aesey parey hain jesey barsat kai baad mendak atey hain

 

[BHarwana]

Bhai Dollar price going down make Pakistani Labor market cheap and thus becomes attractive for foreign business to establish production in Pakistan and will bring in more investment. it is simple as that. Any one who wants to cry as much as he can but this is going to help Pakistan and this is needed to tackle high imports. I am in favor of devaluing rupee to Dollar. Who ever don't likes it can have his own opinion. But this is going to crub imports and help exports grow.

 

[El Sidd]

You are demoted 2 steps for being uninformed,and
You are permanently out of Direct Action committee.
I don't trust them,this time i would bet on President's Bodyguards.

Sir with all due respect i blame Monday

 

[Sine Nomine]

Sir with all due respect i blame Monday

That means on sunday you were partying and having booze
That's why on Monday,you were having no interest in work.

 

[SunilM]

KARACHI: The value of the US dollar hit an all-time high of Rs128.26 in the interbank market on Monday, according to forex dealers.

The US dollar rose by Rs6.75 in the interbank market today, the forex dealers said.

As the market opened, the rate of dollar soared to a high of Rs126, then went to Rs125.50 before rising once again to Rs127.50 and then further spiking to Rs128.26.

In the open market, the US dollar rose by Rs4 taking the rate to Rs128.20.

At the close of business on Friday, the rate of dollar closed on Rs121.54 in interbank foreign exchange market.

When contacted by Reuters, a central bank spokesperson attributed the rupee’s decline to market forces.

https://www.geo.tv/latest/203472-dollar-shoots-to-rs12550-in-interbank-market

Just imagine the rise in external debt obligation with such a steep devaluation!!

 

[BHarwana]

KARACHI: The value of the US dollar hit an all-time high of Rs128.26 in the interbank market on Monday, according to forex dealers.

The US dollar rose by Rs6.75 in the interbank market today, the forex dealers said.

As the market opened, the rate of dollar soared to a high of Rs126, then went to Rs125.50 before rising once again to Rs127.50 and then further spiking to Rs128.26.

In the open market, the US dollar rose by Rs4 taking the rate to Rs128.20.

At the close of business on Friday, the rate of dollar closed on Rs121.54 in interbank foreign exchange market.

When contacted by Reuters, a central bank spokesperson attributed the rupee’s decline to market forces.

https://www.geo.tv/latest/203472-dollar-shoots-to-rs12550-in-interbank-market

Great news Imports will go down.

Pakistani rice will become cheaper than Indian rice.

 

[El Sidd]

That means on sunday you were partying and having booze
That's why on Monday,you were having no interest in work.

I did not even know when Sunday ended and when Monday started. I was honeywashed by a manatee

 

[SunilM]

Great news Imports will go down.

Pakistani rice will become cheaper than Indian rice.

Its a meltdown happening in your forex markets as we speak and you concerned with the compititiveness of pakistani basmati? You pay for oil and gas with basmati?

 

[BHarwana]

You pay for oil and gas with basmati?

Yes we pay for oil and gas with basmati. The dollars that come from basmati goes into oil and gas

All those who were importing start to export now and devaluation will make them do it.

 

[SunilM]

Yes we pay for oil and gas with basmati. The dollars that come from basmati goes into oil and gas

And how many dollars do you earn with the export of basmati vs dollars needed to import oil? Dont just argue for the sake of argument....

 

[BHarwana]

And how many dollars do you earn with the export of basmati vs dollars needed to import oil? Dont just argue for the sake of argument....

It is not basmati. The price pf Pakistani textile is also going down. Price of Pakistani IT is also going down. this is a good news for Pakistan.

This is needed to reduce trade deficit. People will have to focus on export more now than imports. Pakistani leather goods will make more sales abroad now.

This will reduce trade deficit and help our country.

 

[zip]

I think now Pakistan can print all the money lost due to inflation or will it further deteriorate the situation ???

 

[AyanRay]

Great news Imports will go down.

Pakistani rice will become cheaper than Indian rice.

And what about the cost of production? Transportation? Wont that go up since the fuel price will increase now.