Pakistani rupee firms to 136 per dollar

[rak_987]

@bafxet

I partially agree about Ashfaq Hasan Khan but he also was part of the team in 2001/2 and 2013 that negotiated a much lenient IMF package that did'nt break the back as much as what PPP did or PTI is doing. I would'vebeen against such people pre-July 25 but PTI has made such a mess with our financial situation there are bigger sharks or status quo mafia is prevalent in our Finance Division. Whose only job is to do corruption and up the cost to destroy middle class even more. PTI govt. are in talks with IMF since caretaker setup and have already devastated the economy.

 

[BHarwana]

@Hyperion now what please help me here. Is this good or bad for our economy.

 

[Chanakyaa]

@Hyperion now what please help me here. Is this good or bad for our economy.

Financial analyst, Zubair Saleem said the sudden devaluation of the local currency is not a good sign for coming days for the business community particularly the importers.

"This is going to increase the import bill of the country and we might witness further devaluation of the rupee to the US dollar," he cautioned.

It was the second devaluation since the current government came to power in August.

https://www.devdiscourse.com/articl...n-rupee-at-all-time-low-at-rs-144-against-usd

 

[BHarwana]

Financial analyst, Zubair Saleem said the sudden devaluation of the local currency is not a good sign for coming days for the business community particularly the importers.

"This is going to increase the import bill of the country and we might witness further devaluation of the rupee to the US dollar," he cautioned.

It was the second devaluation since the current government came to power in August.

https://www.devdiscourse.com/articl...n-rupee-at-all-time-low-at-rs-144-against-usd

Yes it is not a good sign and importers should start thinking for them selves and also become exporters so diversification helps them when dollar becomes expensive.

 

[Chanakyaa]

Yes it is not a good sign and importers should start thinking for them selves and also become exporters so diversification helps them when dollar becomes expensive.

Actually, If they were expecting this, means they knew that it was inevitable. Hopefully they have a Short term and a Long term Plan for this situation.

Like in the Indian case, they made currency changes and .. other 'short' term moves. Oild is going down that should be another help, But Pakistan needs some serious Moves.

@Nilgiri Might Add something.

 

[rak_987]

@XiNiX

Don't worry about us,your hindutva govt. has finally borrowed plenty of billions from RBI to spend before election reducing your reserves to 300 bn mark [expected by 2019]. Congrats in advance for joining the 100 vs the dollar club soon. rofl. Friendshp with US has its 'benefits'. Hope OPEC meeting does'nt result in Petrol price rise again as they'll cut production again and agin your rupee will fall.

 

[BHarwana]

Actually, If they were expecting this, means they knew that it was inevitable. Hopefully they have a Short term and a Long term Plan for this situation.

Like in the Indian case, they made currency changes and .. other 'short' term moves. Oild is going down that should be another help, But Pakistan needs some serious Moves.

@Nilgiri Might Add something.

The statement is already out there. 100s of economic zones have been made through out the country for domestic production. Energy supply is abundant there and imports will take a hit. Every thing is already mentioned it is time for business to start making transition towards production or export rather than being importers. Because govt is already saying they are going to do it.

 

[Chanakyaa]

@XiNiX

Don't worry about us,your hindutva govt. has finally borrowed plenty of billions from RBI to spend before election reducing your reserves to 300 bn mark [expected by 2019]. Congrats in advance for joining the 100 vs the dollar club soon. rofl. Friendshp with US has its 'benefits'.

lol. One of the Posts I have seen since 2008 ... lol
Matlab Kuch Bhi ???

 

[rak_987]

lol. One of the Posts I have seen since 2008 ... lol
Matlab Kuch Bhi ???

Once INR crosses 80 we'll celebrate together, what say?

 

[Chanakyaa]

The statement is already out there. 100s of economic zones have been made through out the country for domestic production. Energy supply is abundant there and imports will take a hit. Every thing is already mentioned it is time for business to start making transition towards production or export rather than being importers. Because govt is already saying they are going to do it.

Actually, Im not sure how far that will work.
What you need is something on the scale of What India did in 90s.

Its Possible. But Who will commit the Political Suicide ?

Once INR crosses 80 we'll celebrate together, what say?

Your See INR at 80 or 90 is NOT a matter as along as Fundamentals are stable.
Put it this way, if 1 USD = 1 INR does it mean we are like Super duper Economic Power in a Flash ? Noooooo.
Will India Like to have 1 USD = 1 INR ? Noooo.

 

[BHarwana]

Actually, Im not sure how far that will work.
What you need is something on the scale of What India did in 90s.

Its Possible. But Who will commit the Political Suicide ?



Your See INR at 80 or 90 is NOT a matter as along as Fundamentals are stable.
Put it this way, if 1 USD = 1 INR does it mean we are like Super duper Economic Power in a Flash ? Noooooo.
Will India Like to have 1 USD = 1 INR ? Noooo.

It is not a political suicide because this is the first year of govt and they have 4 more to claim the positive effects of their decision which will translate in to better economy.

 

[Chanakyaa]

It is not a political suicide because this is the first year of govt and they have 4 more to claim the positive effects of their decision which will translate in to better economy.

Well, I wish thats the case. a Stable Pakistan Economy will be Great Sign for SA.

 

[rak_987]

@XiNiX
If yourfundamentals were strong Rupee would not have crossed Rs. 68
You depend on FDI too much. You don't have a economy like China. INR was the worst performing currency this year in South East Asia worse than the pesos.

 

[Chanakyaa]

@XiNiX
If yourfundamentals were strong Rupee would not have crossed Rs. 68
You depend on FDI too much. You don't have a economy like China. INR was the worst performing currency this year in South East Asia worse than the pesos.

Rupee Fell because of Oil. Period.
Please Educate yourself over Credit ratings and Growth. It will help.

 

[valkyr_96]

@bafxet

They have thrown Dar under the bus but there are plenty of good economists with work experience in the country like Ashfaq Hassan Khan or Shahid Siddiqui. PTi's biggest ch**iyaapa is there EAC council is also mostly made up of people with IMF and World Bank background. This bs by PTI that their are Pakistani bright minds abroad is another joke, all those bright minds have other nation passports and biases towards certain organizations. Imran is repeating the same mistake of Musharraf, and his situation is even worse.

Asad Umar like people will surrender PTI to the corrupt mafias operating from PPP and PML-N era.

I really hope someone pushes him under the bus at least then he will partially be paying for his crimes. This mess is his creation especially letting the circular debt spiral out of control please watch his hubris he used to say hum sara debt eik din mein khatam kerdeyain gaye. He parked that debt in PHPL and now Mufta Ismail says that is not a part of government debt.