Pakistani rupee makes historic recovery in a single day against US Dollar | Aug 2022 .

[ziaulislam]

View attachment 868052
exports are falling by double-digit % and the dollar is going down (although dollar is depreciating and oil prices are going down)

I smell daronomics at play... @ziaulislam
its unnatural

whatever the case PDM dakoos have gang raped our economy

I thought darkonmics is the worse PMLN could do..I was wrong..
Currently it's paniconomics going on..noone has no ideas what's going on.

Rupee is running from 200-250 ..it's a sign that practically Pakistan has defaulted

 

[AZ1]

Amazing, brilliant, zabardast recovery of Rupee. !!! As an overseas Pakistani from UK, I love my Pakistan growing back strong, shows resilience of Pakistanis.

Jo jalna chahta hai Pakistan ki tareeqay py Jallay, Dil Jallay!

taraqeee haha patwari zehn cant see pakistan beyond 1 road and briyani plate

our exports are going down, revenue going down, debt increasing. temporary relief we will be short of $4 billion this fiscal year from. remittance and exports.

 

[my2cents]

Not happening. More like 200 is best case scenario.

What is the reason for reversal
? Any good news about economy?

 

[AZ1]

What is the reason for reversal
? Any good news about economy?

https://twitter.com/x/status/1555512664687841281

pakistan economy good news for pmln is

take more loans

 

[RoadRunner401]

Down to Rs216 in open market. Wow good recovery there.

Indians cheering for PDM

 

[AZ1]

Down to Rs216 in open market. Wow good recovery there.

224 by SBP
223 by money exchange

https://twitter.com/x/status/1555502660786208769

 

[Riz]

View attachment 868051

Imported govt is dumping the available dollars of the reserves into open market , now they knew there is nothing but time of elections, they will just drop the rate of dollars but will throw pak economy into deep mess
Just today mifta told no country is willing to give us money ,

https://twitter.com/x/status/1555512664687841281

economy is on such a bad shape , now the question is why is dollar rate is decreasing ?
@Imran Khan sb itnay khush na ho yeh ishaq daar chor ka famila lga rahy hain , bhot jald khazana khali kar dain gay dollar 150 par a gia to phir talian bajana

 

[RescueRanger]

My favourite Chinese proverb applies here:
机不可失，时不再来

@MH.Yang wouldn’t you agree

 

[Wood]

It appears that the hit against PKR has run out of steam. By the time the bridging finance is arranged and IMF board approves bailout, PKR may well be below 200. Perhaps even towards 170 after the deferral of other outstanding debt. The current administration has to control inflation, but at the same improve employment numbers in the economy before next election. I think monetization of assets is the way forward for Pakistan. In the next few years Reko Diq impact will settle into the economy. After that, Pakistan will naturally get rid of its BoP issues with or without any stellar leadership

 

[HttpError]

It is not the exchange rate of PKR rising, but the exchange rate of the US dollar is falling rapidly.

Today, the dollar is depreciating relative to most currencies.

The dollar will enter a long period of decline, and even the US interest rate hike cannot be stopped that.

Why is that? what is the reason behind it?

 

[-blitzkrieg-]

Afghan territory has been targeted again by American drones. Afghan authorities are investigating. The results will be dangerous if Pakistan is involved. Suicide bombings could return. Only two families' wealth was saved at the expense of the country.Drone flew, dollar fell. Drones will lower the dollar. Drones increase as dollars drop View attachment 867764

Afghanistan was itself onboard.. what world are u living in..

 

[Pogical Thinking]

What is the reason for reversal
? Any good news about economy?

Although exports decreased, imports decreased by a greater margin so the market gained some confidence there, furthermore, LCs of oil payments for July were settled which resulted in less pressure on the rupee. Secondly, Good news about the IMF agreement also increased investor confidence. The Finance Ministry also said that they plan to import less crude in August due to already abundant reserves so which also boosted confidence. Finally, after the rupee settled around 240, exporters who had parked their dollars abroad hoping for the rupee to go down more finally began their dollars to rupees which provided a great boost to the rupee.

 

[AZ1]

And why would u post a bad news of Pakistan ?

Banning Import saving $10 billion dollars a month atleast for Pakistan, and Pakistanis can survive without foreign expensive equipment buying by burger bachays!

https://twitter.com/x/status/1555541516310953991

 

[MH.Yang]

Why is that? what is the reason behind it?

Over the past few days, China has sold 100 billion US bonds. At present, China's holdings of US debt are only $980 billion.

This is the first time since 2008 that China has reduced its holdings of US bonds to less than US $1 trillion. Moreover, many institutions predict that China will continue to sell US $200 billion of US debt.

I think many countries should thank Pelosi.

BTW: The exchange rate of not only euro, CNY, PKR and other currencies, but even Indian rupee has returned to 79. Except for the yen, the currencies of all major economies are appreciating.

 

[hydrabadi_arab]

SBP also hold $3.8 billion in gold reserves. This is probably for default like scenario before going out lol