Pakistani rupee becomes World's best currency of 2021

[xeuss]

A strong currency is good for importers.

A weak currency is good for exporters.

I suspect a weaker currency is in the best interest of Pakistan, as it will boost it's exports.

 

[Mujahid Memon]

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.

Thanks for explaining all that logically.

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.

My post was not targeted towards sensible people like you.

 

[VCheng]

LOL you are so right always

LOL! I am always in the wrong on PDF. That is only to be expected.

On topic, at this rate of appreciation, it will soon be 99 PKR to the dollar. However, if the IMF agreements go south 200 is still possible.

 

[xyxmt]

LOL! I am always in the wrong on PDF. That is only to be expected.

On topic, at this rate of appreciation, it will soon be 99 PKR to the dollar. However, if the IMF agreements go south 200 is still possible.

if there was a rate of appreciation then it may go to 1PKR=1USD but currencies dont follow any mathematical formula s just enjoy as long as it lasts.

 

[Goritoes]

A piece of paper can never be great, the real trade should be done with either Gold or Silver... those elements holds real power.

LOL! I am always in the wrong on PDF. That is only to be expected.

On topic, at this rate of appreciation, it will soon be 99 PKR to the dollar. However, if the IMF agreements go south 200 is still possible.

nah, even with IMF it wont exceed 170-180+ ...

 

[Old School]

PKR is our most important defense mechanism. Our success and failure is directly correlated with PKR.

 

[imrankhan7250]

"Performance" of a currency is a wrong approch. A currency is not an actor.
Stability of a currency is the most appropriate way.
Pls refrain using wrong and inappropriate criterion to judge a currency.
Infact Pak currency is the most erratic and unstable currency in this region.

 

[IceCold]

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.

PS 5 is now somewhere 145 something on daraz. It was even lower during pakistan day sale.

 

[PradoTLC]

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

A long stretch..


having said that it is a good sigh that macro economic indicators are working. i.e deflated the economy, reduce the imports (which noonies were so stupidly proud of showing growth rate based on import sales..idiots). With imports lower i.e. +VE current account means less borrowing from IMF and other agencies it gives our economy time to grow.

the focus show now be exports.. and quality value added products and services. Why do we export large chunks of pink salt to india and they in turn label as "Himalayan Salt" and charging much more to the international market.

Like wise with olive oil need to speed that up have import substitution... love Malaysia but why import oil from there?..

 

[VCheng]

if there was a rate of appreciation then it may go to 1PKR=1USD but currencies dont follow any mathematical formula s just enjoy as long as it lasts.

Oh I am enjoying the enthusiasm over the current "huge appreciation" of the PKR just as I will hear the deafening silence when it falls inevitably. The underlying fundamentals remain as weak as ever, if not more.

 

[Indos]

A strong currency is good for importers.

A weak currency is good for exporters.

I suspect a weaker currency is in the best interest of Pakistan, as it will boost it's exports.

Not if you have huge foreign debt, particularly when the gov has already got difficulty to pay the yearly debt payment. Pak currency is already very low, the main work that should be done to improve Pak industrialization is for sure not to depreciate the currency value further. What the Central Bank should do is to make it stable and not easy to get depreciated.

 

[shah_123]

A strong currency is good for importers.

A weak currency is good for exporters.

I suspect a weaker currency is in the best interest of Pakistan, as it will boost it's exports.

let's set it to 1usd = 300 Rs tomorrow and see if it boosts our exports?

 

[Enigma SIG]

Oh I am enjoying the enthusiasm over the current "huge appreciation" of the PKR just as I will hear the deafening silence when it falls inevitably. The underlying fundamentals remain as weak as ever, if not more.

Lets cherish the short-lived happiness.
Country needs a stable outlook before investors have confidence to actually invest.

 

[Smoke]

let's set it to 1usd = 300 Rs tomorrow and see if it boosts our exports?

Against the USD it doesnt really matter since we import everything anyway.. so yes costs rise but so does income.

However if we actually created things in this country.. we'd sure as hell make a lot of money with a weaker currency.

Small example, If Honda/Toyota/Suzuki setup manufacturing plants instead of assembly plants with procurement for all product trims done locally, then yes, we'd be exporting cars right now.

 

[Baby Leone]

our economy is now already above 300 billion now with PKR at 155.