PKR falling like a meteorite.

[Ghazwa-e-Hind]

https://twitter.com/x/status/1552918012755431424

https://twitter.com/x/status/1526474667690795009

 

[fatman17]

*Timeline of PKR*

Fluctuation of the Dollar rate in Pakistan from 1947 to 2022:

In 1947 1 USD was 3.31 PKR
In 1948 1 USD was 3.31 PKR
In 1949 1 USD was 3.31 PKR
In 1950 1 USD was 3.31 PKR
In 1951 1 USD was 3.31 PKR
In 1952 1 USD was 3.31 PKR
In 1953 1 USD was 3.31 PKR
In 1954 1 USD was 3.31 PKR
In 1955 1 USD was 3.91 PKR
In 1956 1 USD was 4.76 PKR
In 1957 1 USD was 4.76 PKR
In 1958 1 USD was 4.76 PKR
In 1959 1 USD was 4.76 PKR
In 1960 1 USD was 4.76 PKR
In 1961 1 USD was 4.76 PKR
In 1962 1 USD was 4.76 PKR
In 1961 1 USD was 4.76 PKR
In 1962 1 USD was 4.76 PKR
In 1963 1 USD was 4.76 PKR
In 1964 1 USD was 4.76 PKR
In 1965 1 USD was 4.76 PKR
In 1966 1 USD was 4.76 PKR
In 1967 1 USD was 4.76 PKR
In 1968 1 USD was 4.76 PKR
In 1969 1 USD was 4.76 PKR
In 1970 1 USD was 4.76 PKR
In 1971 1 USD was 4.76 PKR
In 1972 1USD was 11.01 PKR
In 1973 1 USD was 9.99 PKR
In 1974 1 USD was 9.99 PKR
In 1975 1 USD was 9.99 PKR
In 1976 1 USD was 9.99 PKR
In 1977 1 USD was 9.99 PKR
In 1978 1 USD = 9.99 PKR
In 1979 1 USD = 9.99 PKR
In 1980 1 USD = 9.99 PKR
In 1981 1 USD = 9.99 PKR
In 1982 1 USD = 11.85 PKR
In 1983 1 USD = 13.12 PKR
In 1984 1 USD was 14.05 PKR
In 1985 1 USD = 15.93 PKR
In 1986 1 USD = 16.65 PKR
In 1987 1 USD = 17.4 PKR
In 1988 1 USD = 18 PKR
In 1989 1 USD = 20.54PKR
In 1990 1 USD = 21.71 PKR
In 1991 1 USD = 23.8 PKR
In 1992 1 USD = 25.08 PKR
In 1993 1 USD = 28.11 PKR
In 1994 1 USD = 30.57 PKR
In 1995 1 USD = 31.64 PKR
In 1996 1 USD = 36.08 PKR
In 1997 1 USD = 41.11PKR
In 1998 1 USD = 45.05 PKR
In 1999 1 USD = 51.90 PKR
In 2000 1 USD = 51.90 PKR
In 2001 1 USD = 63.5 PKR
In 2002 1 USD = 60.5PKR
In 2003 1 USD = 57.75 PKR
In 2004 1 USD = 57.8 PKR
In 2005 1 USD = 59.7 PKR
In 2006 1 USD = 60.4 PKR
In 2007 1 USD = 60.83 PKR
In 2008 1 USD = 81.1 PKR
In 2009 1 USD = 84.1 PKR
In 2010 1USD = 85.75 PKR
In 2011 1 USD = 88.6 PKR
In 2012 1 USD = 96.5 PKR
In 2013 1 USD = 107.2PKR
In 2014 1 USD = 103 PKR
In 2015 1 USD = 105.20 PKR
In 2016 1 USD was 104.6 PKR
In 2017 1 USD = 110.01 PKR
In 2018 1 USD = 139 PKR
In 2019 1 USD = 163.75 PKR
In 2020 1 USD = 168.88PKR
In 2021 1 USD = 179.16PKR
In 2022 1 USD = 240.00PKR ( July 28)

 

[AZ1]

this is wrong...whoever come to power they will have to gather the taxes in order to run the country.....telling people to not pay the taxes is just wrong

people are ready to pay tax just not to criminals for their 1 arab rupess for parties and other incentives.

250 open market as per today

Currency Rates in Pakistan Open Market Dollar Rate

Forex.pk offers daily in open market Dollar rate & other currency rates as per Pakistani Market. Here you can find historical and today currency rates in Pakistan.

www.forex.pk

 

[Wood]

I think following points can control the issue with immediate affect.

1. Immediate ban on dollar trading in open Forex market and instead only allowed in banks with proper documents.
2. Put threshold on imports ,it should be 10 percent less than projected export+ worker remittance+ FDI.
3. Some percentage of import quota should be allocated to exporters to discourage imports. Quota can be used by exporters themselves or further auction to importers.
4. New importer should open LC with full payment.
5. Start trading with China in Yuan with special arrangements, this will reduce pressure on dollar.

1. Pakistan cannot ban international forex trading. It is not feasible.
2. How will the thresholds be determined for different industries and sectors? How long and extensive can such a process be? Should it be done without research? Think practical.
3. How is this quota determined? It will lead to economic contraction and therefore Pakistan will not be able to generate enough jobs. Bad for domestic politician who want to be reelected.
4. Full payment is not possible for business people. Credit is how businesses operate. You may as well ask a business to close down.
5. Where will Pakistan get the Yuan to trade from? Sell dollars to buy Yuan? Problem is Pakistan does not have $ in the first place.

 

[ghazi52]

,.,.Pakistan’s Debt Increases by Rs. 6,500 Billion in last 3 months just from Dollar hikes against Rupee.

 

[Waterboy]

Correction, falling at Shahbaz Speed!

Imran Khan even in the opposition is causing the dollar to fall, amazing!

Not the government which came through a back door deal, not an unnatural alliance, not a govt only ruling over Islamabad, not this sham of a govt.

Thora yeh PTI phobia say niklo, and accept the PDM government for the sh!tshow it is, and bolo in ko election karayen, that is the only solution to this. No government at the moment can do anything for this, NO ONE.

Alright elections occur, what is the solution? What is PTI's magic pill?

The guy derailed the IMF program at what cost? It was nothing but political nukes and one of the reason for the shitshow. Secondly he's betting on remittances and real estate investment to cover for shortfall.

What exactly is the solution? Elections? Alright he comes into power again? Then what? With what shit face will he negotiate with IMF? Who will exactly bail us out? No one answers these questions. Another mantra is that off 2/3 majority, what will it achieve honestly?.

The problem have gone way bigger than khan or sharif or zardaris. That is why a charter of economy is needed with everyone on board. Khan is such shit and egoistical manic who's gone on record to say he'll negotiate with taliban but not his own country men accused of corruption.

 

[truthseeker2010]

Alright elections occur, what is the solution? What is PTI's magic pill?

The guy derailed the IMF program at what cost? It was nothing but political nukes and one of the reason for the shitshow. Secondly he's betting on remittances and real estate investment to cover for shortfall.

What exactly is the solution? Elections? Alright he comes into power again? Then what? With what shit face will he negotiate with IMF? Who will exactly bail us out? No one answers these questions. Another mantra is that off 2/3 majority, what will it achieve honestly?.

The problem have gone way bigger than khan or sharif or zardaris. That is why a charter of economy is needed with everyone on board. Khan is such shit and egoistical manic who's gone on record to say he'll negotiate with taliban but not his own country men accused of corruption.

Just like bajwa is now begging to get dollars. I think he is the first serving chief who is doing this openly to save his a

 

[Jango]

Alright elections occur, what is the solution? What is PTI's magic pill?

For starters, you won't be seeing rapid devaluations such as right now. The runaway in the PKR value is solely due to the current political and economic situation.

Secondly, name me three economic decisions, strategic or policy decisions this government has undertaken. None. Zero. And they cannot take any either, because you simply cannot do that. Isi liay the govt term is 4 or 5 years, not 1 year, to have some continuity of policy. No one can do jack in one year. Beshak election kay bad N hi ajaye, but at least get into elections so there is some assurity that you will be in government 2 years from now.

Do you know why the IMF loan is stalled right now? And why Qatar and UAE are refusing to give a loan?

The guy derailed the IMF program at what cost? It was nothing but political nukes and one of the reason for the shitshow.

No he did not. Stop peddling this nonsense. Go and do your own research for once, khuda ka wasta hai. If the IMF program was derailed aur sab kuch ho gaya tha, to phir ab to we are back, to ab kia masla hai?

Secondly he's betting on remittances and real estate investment to cover for shortfall.

Source please?

What exactly is the solution? Elections? Alright he comes into power again? Then what? With what shit face will he negotiate with IMF? Who will exactly bail us out? No one answers these questions. Another mantra is that off 2/3 majority, what will it achieve honestly?.

You are totally missing the whole point. Elections kay bad beshak N hi ajaye...but at least have elections. And don't worry, IMF kar lay gi negotiate.

I think you are not more than 20 years old warna you would have known that N and PPP have also broken off the IMF program totally (yes, they formally informed the IMF we will be exiting the program) in their 3rd or fourth year of the program. So with what shit face do they go to the IMF?

The problem have gone way bigger than khan or sharif or zardaris. That is why a charter of economy is needed with everyone on board.

The charter of the economy is the biggest stinking turd to have been dropped in the past 4 months. You talk about this with any political scientist or even a student and he will spit in your face.

Economy means politics. What is the charter of economy exactly? Please tell me. What does it entail?

You mean keh 4-5 parties/families/kingdoms make a deal with eachother keh we will be hunky dory with each other and not criticize each other? So that there is no accountability on them from an opposition? So then if their policies dramatically fail, then we have no alternative?

Economy is all about politics bud. Socialism, capitalism, closed economy, FTA, state ownership, privatization, all concepts stem from politics.

Heck, even in the US, politics is based on the economy among a wide variety of factors. Biden is facing all time low approval ratings, because of high gas prices and inflation. Everyone knows in the US a democrat govt means greater push for a green economy, while a republican govt means the opposite.

Please, get a decent book about political economics and read it sometimes.

 

[ali_raza]

gen zia in 81 decouple rupee from peg with british pound
rest is history

 

[YaqoobAlam]

Right at this moment the interbank rate is 242...

The journey started from 173 and now it's at 242. Everyday we loose about 4, 5 rupees.

No single head is turned. Federal government is busy in god knows what. SBP is chilling. Khan is busy conquering provinces.

Is there anyone who cares for the economy and not the stupid kursi?

Khan's economic plan is pretty shit expecting remittances to complete the dollar shortfall. People speculating on polictical uncertainty.

Is there any party or organisation that has a proper plan to set things straight? Why can't all the stupid politicians sit together and form a charter of economy which should be followed irregardless.

Why does khan say weird shit like I'll negotiate with taliban who literally killed and butchered people but won't talk to politicians accused of corruption, is his ego more important or the country. Let's be honest sharifs and zardaris are not going anywhere.

The state of affairs so literally so pathetic.

Previous govt. was doing pretty good than this out-of-the-blue-unelected govt.

 

[SD 10]

gen zia in 81 decouple rupee from peg with british pound
rest is history

wow, never heard of that...why was it done?

 

[Shabi1]

Alright elections occur, what is the solution? What is PTI's magic pill?

The guy derailed the IMF program at what cost? It was nothing but political nukes and one of the reason for the shitshow. Secondly he's betting on remittances and real estate investment to cover for shortfall.

What exactly is the solution? Elections? Alright he comes into power again? Then what? With what shit face will he negotiate with IMF? Who will exactly bail us out? No one answers these questions. Another mantra is that off 2/3 majority, what will it achieve honestly?.

The problem have gone way bigger than khan or sharif or zardaris. That is why a charter of economy is needed with everyone on board. Khan is such shit and egoistical manic who's gone on record to say he'll negotiate with taliban but not his own country men accused of corruption.

The only thing Pakistan needs for stability of Rupee is political stability, that is a gov that is expected to complete its 5yr term. No amount of IMF dollars/loan can fix it otherwise. The argument that PTI layed economic landmines is hogwash as they locked fuel price for 4 months only and that too was budgeted by additional tax collection, PDM continued it further than the budgeted time frame and had to eat away reserves, this lack of planning/unpreparedness started a series of events which led to a market buy out of dollars by the public. We don't have major loan repayments this year so default is out of the question but liquidity and balance of payment is a issue that could create Sri Lanka like fuel and goods shortages. Whenever a sitting gov is threatened by the opposition the Rupee devalues, regardless of all other positive indicators. And to top it off our local hoarders are definitely taking out dollars from circulation for greater wealth, once dollar depreciates a ounce people will start dumping as well as we can expect more investment from expats.

PDM, PTI, PML(N) or PPP coming in for a couple of months or till scheduled elections in October wont fix it now, the timing for VONC was terrible however it was in haste to get NRO2.0 which they've succeeded, so they should let go of gov now. We need immediate elections with a party getting enough majority so it can't be derailed/threatened by opposition. Whether you like it or not at the moment the only national party capable of doing this is PTI, as it's the only party at the moment that could increase its holdings. PML(N) is on damage control and trying desperately to hold on to existing supporters but in this endeavor alienating potential future supporters, PPP is in denial and thinks everything ok and they can still manipulate system to maintain what they have.

 

[Communism]

Pakistan's economy is 85% household consumption.

(To put this in perspective, in the U.S. in 2020, household consumption was 67% of GDP despite being the reserve currency holder)

It's run 100% off free money from allies plus loans.

The only real solution is to let household consumption drop to below 50% of the GDP.

AKA drop the GDP by 35 points.

This is the only way to stop the rampant overpopulation in the country and to enforce discipline on consumption, as there is no politically feasible way to enforce population controls in the country.

The country needs to be put under conservatorship by creditors and run in an economically sound manner.

 

[ali_raza]

wow, never heard of that...why was it done?

to have more control on how much printing we do

 

[SD 10]

to have more control on how much printing we do

do you have some reading on this? i cant find anything on the internet?