Pakistani rupee becomes World's best currency of 2021

[Mujahid Memon]

Rupee falls from 120 to 160+
Youthias: It is natural and good for economy.


Rupee gains a few pennies:
youthias: All hail Fuhrer

 

[Smoke]

Are Playstations subject to import duties etc?

Absolutely, however, the PlayStation is not officially launched in Pakistan, hence multiple retailers get their men to hand carry goods to avoid taxation.

Since ps5 consoles out, the prices of ps4s will fall. Developing nations console gamers tend to be a generation behind, unless very wealthy. People in countries like Gabon are still mainly playing on ps3s.

Ps4s graphics are still decent. The ps5 advantage seems to be mainly in having a bigger frames per second capacity. Hence a Pakistani should not feel too bad about not being able to afford ps5s.

I'm more of a PC gamer myself, I will only get the PS5 once Gran Turismo 7 debuts on it. I skipped the PS4 generation all together so it is due time.

Check this out though, last year I spent PKR 384,000/- on a high end windows laptop that a few years ago would max out around PKR 200,000.

That is a crazy fast increase in inflation.

 

[Ahmet Pasha]

That's cuz economic hitmen are now gone

 

[ARMalik]

Is it still April Fools day??

 

[aakalim]

What benefit does it have for the common person? Its not like the inflation has done down by any appreciable amount. For example, car prices in Pakistan have been increasing even more. The auto companies raised prices last year citing the increase in the dollar rate, but now that the rupee is appreciating, where are the corresponding drop in prices?

 

[POPEYE-Sailor]

Bhai ek dafa he 500 pe le jao na, phr roz 5 rupe gira k celebrate kr lengay?

 

[Ali_Baba]

Is this the by-product of the improvements made to address FATF issues? It does feel like it to me, ie people now have to use official and auditable means to send money to Pakistan more than before, and that is now reflecting in Pakistans currency value ?

 

[xyxmt]

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

Bloomberg called it
1. Pakistani Rupee
2. Canadian dollar

most appreciation against Dollar, It doesn't mean anything but it is what it is

Is this the by-product of the improvements made to address FATF issues? It does feel like it to me, ie people now have to use official and auditable means to send money to Pakistan more than before, and that is now reflecting in Pakistans currency value ?

Thank you India

 

[Death Professor]

Ahh, its 153.1 now, I guess heavy buying has been started again. I guess the market thinks its value is in range of 152-155.

 

[jamal18]

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

So this website is not prone to exagerration?

 

[Sheikh Rauf]

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.

Weaker currency is better when your exports are higher in Pak import and export have gap of 1000%. We need to keep it upto 100 to 80 rps for 1 dollar then later we can downplay.. not in posission when we dont even have 30b in reserve...
Ideally we sud have 100b in reserve more is much better we are 22 caror and what we have for our country nothing in reserves even its water electricity schools hospitals vaccines etc.

 

[VCheng]

Bloomberg called it
1. Pakistani Rupee
2. Canadian dollar

most appreciation against Dollar, It doesn't mean anything but it is what it is

So falling from 110 to 155 is nothing, but an appreciation from 155 to 150 makes it the best currency. Got it.

So this website is not prone to exagerration?

Ae eeman waalo, lambi lambi chornay walo ........

(Who remembers this famous line from an old PTV drama? )

Absolutely, however, the PlayStation is not officially launched in Pakistan, hence multiple retailers get their men to hand carry goods to avoid taxation.

However, they may avoid paying taxes, but that does not mean they reduce the price in the market to sell those units. The prices remain where taxes would put them.

 

[Patriot forever]

Weaker currency is better when your exports are higher in Pak import and export have gap of 1000%. We need to keep it upto 100 to 80 rps for 1 dollar then later we can downplay.. not in posission when we dont even have 30b in reserve...
Ideally we sud have 100b in reserve more is much better we are 22 caror and what we have for our country nothing in reserves even its water electricity schools hospitals vaccines etc.

Actually one can never achieve exports with an over valued currency, that is the reason why our exports are stuck and decreasing for the last 10 years ( a lot of other things also play a role but here we are talking about currency).

Overvalued currency promotes imports and discourage exports. Further more you can never have reserves in the first place if you burn even borrowed dollars on subsidizing currency.

Overvalued currency only leads to balance of payment crisis and subsequent bankruptcy. This is the main reason why we are with the imf in the first place.

Ahh, its 153.1 now, I guess heavy buying has been started again. I guess the market thinks its value is in range of 152-155.

SBP is buying heavily, reserves jumped $300m by March 26th figure. Yes this is not due to imf tranche as it's been released on 30th march and will show up in the next update by SBP.

Can not let a rapid appreciation, this affects exporters forward order bookings.

 

[xyxmt]

So falling from 110 to 155 is nothing, but an appreciation from 155 to 150 makes it the best currency. Got it.

LOL you are so right always

 

[Patriot forever]

Rupee falls from 120 to 160+
Youthias: It is natural and good for economy.


Rupee gains a few pennies:
youthias: All hail Fuhrer

Bro currency is not the thing to cherish here. If it was me I would have preferred currency to be maintained at 155 range and SBP to buy and build stable reserves. SBP started buying now (bro my understanding normally they do that when currency quotation range broadens, a normal process in a market based currency )

What the important part is the macroeconomic situation and BoP crisis is improving, market based currency is first line of defence. You remove that barrier and artificially manipulate currency for political reasons you create a cycle of unsustainable CAD a BoP crisis after which you have no other option but to go to IMF.

That 120 Rs was never the true value of your currency, when someone says good for economy they meant is comparing artificially subsidized currency vs market based currency. That is what is meant by good for economy.

I can probably write a better name calling, insulting reply just for the sake of writing but it is better to understand the topic at hand. Ignorance like this has led us to 22nd imf programme in our 70 years.