Pakistani rupee becomes World's best currency of 2021

[Abdulrehman 2978]

Arif Habib Limited Head of Research Tahir Abbas, while talking to The Express Tribune, said the excessive inflow of dollars supported the rupee in maintaining the uptrend.

Rupee becomes world’s best currency | The Express Tribune

Gains significant ground against dollar in wake of excessive inflow of foreign currency

t.co

Article by The Express Tribune

#Economy #SBP #Currency #AHL #Pakistan

 

[graphican]

I just transferred AUDs into Pak Rupee today, and the conversion rate was 1$AUD = 115 Rupees. Previously it was 121 and that is some 5% improvement since.

 

[VCheng]

Labeling the PKR as the world's "best" currency might be bit of a stretch, even now.

 

[Pakistani sipahi]

I just transferred AUDs into Pak Rupee today, and the conversion rate was 1$AUD = 115 Rupees. Previously it was 121 and that is some 5% improvement since.

Riyal now 40. something I remember I transferred at 44 also , Great improvement

 

[FOOLS_NIGHTMARE]

A strong currency is good for the country, I hope finally the trend remains this way.

 

[Abid123]

April Fools' Day?

 

[FOOLS_NIGHTMARE]

April Fools' Day?

No doubt the title is misleading, nevertheless the strength in the Rupee lately has given us reasons to be happy.

 

[Smoke]

I will believe it to be strong when $1.00 = > PKR 100.

Ideally around PKR 70-80 per US Dollar.

A Playstation 5 costs $499.99 in the USA, direct conversion to PKR is PKR 76,384, ofcourse it is reselling here for much higher.. up to PKR 160,000.

So if PKR rises to at least PKR 100 = $1.00, That would still be acceptable, anything more is just a bonus.

 

[Vapour]

Laughable title.

 

[Patriot forever]

No doubt the title is misleading, nevertheless the strength in the Rupee lately has given us reasons to be happy.

Actually it is not misleading at all. The appreciation is based on actual rupee value not manipulation.

People who don't understand how currency works is our currency was the weakest in Plmn tenure but was propped up artificially, this was one of the main reasons for macroeconomic deterioration.

Rupee strengthened in a range of 151-152 yesterday but SBP started buying to prevent a drastic change and slow the appreciation.

China maintains a weaker currency on purpose, Bangladesh, India, Vietnam no other country artificially manipulates currency, Indian central bank was also buying dollars from the market to prevent appreciation.

 

[VCheng]

I will believe it to be strong when $1.00 = > PKR 100.

Ideally around PKR 70-80 per US Dollar.

A Playstation 5 costs $499.99 in the USA, direct conversion to PKR is PKR 76,384, ofcourse it is reselling here for much higher.. up to PKR 160,000.

So if PKR rises to at least PKR 100 = $1.00, That would still be acceptable, anything more is just a bonus.

What percentage of the price in Pakistan is taxes?

 

[Baby Leone]

good move as it is market based hope it will note get shocks like earlier.

anyone know based on current value how much will be our GDP now as there is no data for Pakistan 2020/21 GDP any where.

 

[Death Professor]

Labeling the PKR as the world's "best" currency might be bit of a stretch, even now.

not a fixed or a permanent thing, it changes. One could have labeled PKR to be one of the worlds worst currency when it shot up from 120~ish to 150~ish.

A Playstation 5 costs $499.99 in the USA, direct conversion to PKR is PKR 76,384, ofcourse it is reselling here for much higher.. up to PKR 160,000.

taxes. On one hand people are complaining why rich aren't paying tax, on the other hand when expensive things get taxed people complain about high price.

 

[Reichsmarschall]

I will believe it to be strong when $1.00 = > PKR 100.

Bruh this condition is still true, or maybe you wanted to write <=.

 

[VCheng]

not a fixed or a permanent thing, it changes. One could have labeled PKR to be one of the worlds worst currency when it shot up from 120~ish to 150~ish.


taxes. On one hand people are complaining why rich aren't paying tax, on the other hand when expensive things get taxed people complain about high price.

No. The PKR was not the world's worst currency then, and it is certainly not the world's best currency right now.