PKR goes to 168.60 highest rate ever against dollar in history.

[Bilal.]

When Argentina defaulted there currency devalued 38% last year and now it has only devalued 4% this whole year.

Imran Khan saving us from default took us from 124 to 170, worse performance than a default country.

So 37% over 3 years is worse than 38% and 4% over the last 2 years?

 

[khail007]

We are going for Imran Khan growth. Daily 1 rupee crash on interbank and open Market.

Intraday Report: Dollar up by 80 paisa - Mettis Global Link - News

September 14, 2021(MLN): Stretching the losing streak, the Pakistani Rupee (PKR) on Tuesday plunged by around 80 paisa against the US dollar (USD) so far in the interbank market. The dollar was being quoted at 168.90/169.00 (11:41 PST) compared to the previous day’s close of 168.095. Copyright...

mettisglobal.news

Default was better than Imran Khan handling Pakistan finance matter.

Pak Rs will devalue further till the situation in the neighbourhood does not improve. Until the US$ again started to flow in Afghanistan, the demand in Pakistan for US$ increased many folds. Either Zardari, 'Haramkhor' Noora or inefficient IK; none of them could control/able to control the situation.
If you are so critical about the situation or think you are the best at it, you could apply for the post of Ishaq Dar in the 'London cabinet'.

 

[mourning sage]

We are going for Imran Khan growth. Daily 1 rupee crash on interbank and open Market.

Intraday Report: Dollar up by 80 paisa - Mettis Global Link - News

September 14, 2021(MLN): Stretching the losing streak, the Pakistani Rupee (PKR) on Tuesday plunged by around 80 paisa against the US dollar (USD) so far in the interbank market. The dollar was being quoted at 168.90/169.00 (11:41 PST) compared to the previous day’s close of 168.095. Copyright...

mettisglobal.news

Default was better than Imran Khan handling Pakistan finance matter.

I dont think you understand the concept of a free floating exchange rate. These are automatic economic correction measures. Our exports are not picking up pace and our imports are increasing. To make our exports more competitive and imports less so, an uptick in exchange rate is observed. Yes, it puts pressure on our CAD, but that is short termed. Exchange rates are one of the most powerful policy tools a State Bank has.

I understand your pain for Nawaj bin Modi. The destruction that Ishaq bin Dowal put into action is now being upset by these strong policies and you being the pawns of the devil are visibly upset. Please take your crap somewhere else.

 

[Crimson Blue]

“The rate has moved up if you see the last six months. But if you see the last two years, rupee has devalued by something around 3%. The average is 4% to 5% during the last 20 years,” said Punjani.

He added that the dollar rate jumps when a new government is formed.
“The new government has to devalue rupee to survive. This has been the phenomenon we have been seeing during the last twenty years,” Punjani added.

Dollar rate nears to all-time high in Pakistan

High imports, dollar smuggling to Afghanistan are main reasons

www.samaa.tv

So did you even comprehend the article before you posted it?

How about you read above mentioned lines about 10 times so that you can somewhat understand it.

 

[jedijedi]

When Argentina defaulted there currency devalued 38% last year and now it has only devalued 4% this whole year.

Imran Khan saving us from default took us from 124 to 170, worse performance than a default country.

it seems to me you suggesting Pakistan is better off defaulting on its debt commitment rather than continue trying to avoid bankruptcy? I will defer to my dumbed down analogy of our current fiscal equation that I posted the other day.
Most exporters are rejoicing at dollar skyrocketing vs Pakistan Rupee. They're Pakistanis too, they choose to either find local goods and export them or manufacture them to sell abroad. Are they any less Pakistanis compared to importers of expensive goods who are crying today? Yes imports are necessary but more imports than a nation can afford has only one end result. Debts!

To oversimplify the equation and to stop hating on one single party, I compare Pakistan to a house hold with.

Earnings (Exports) -> 20-25 Rupees
Brother sending from abroad (Remittances) - 20-25 Rupees
Total = 40-50 Rupees

Spending (Imports) -> 55-60 Rupees

Credit Card Debt: 115 Rupees
Credit bill divided into installments + interest = 10-20 Rupees

Total Spending -> 65-80 Rupees vs earnings of 40-50 Rupees

We (I put myself first) the average citizen are spoilt children of this household who need fancy toys like imported cars, imported mobiles, fancy clothes, imported foods and all. Our parents (politicians) keep feeding our cravings for all the junk food and lust for expensive goodies and keep blaming each other so that children don't unite and take control from their hands. Children don't work to make something useful for the home and worthwhile enough to sell and earn more for the home.
Hating on Imran, Nawaz, Zardari is too easy when we

1- don't stop our own addiction to imports
2- don't work harder towards manufacturing and exporting
3- always vote for charlatans who either look pretty, are smooth talkers or bullies, or in some cases hold eternal loyalty pledges of our parents.

It is entirely boring to read everyone blaming the voters of the other party while all of us just ignore our own contribution to this problem as citizen. If my brother is a successful importer, of course I'll hate on all of you blaming CAD as mother of all evils. I will hate the party that makes USD so expensive that my brother can't find buyers for his imports! I will find every excuse like "crucial industrial machinery, raw materials and medicine and all" to blackmail everyone. Anyhow, peace you all!

Pak Rs will devalue further till the situation in the neighbourhood does not improve. Until the US$ again started to flow in Afghanistan, the demand in Pakistan for US$ increased many folds. Either Zardari, 'Haramkhor' Noora or inefficient IK; none of them could control/able to control the situation.
If you are so critical about the situation or think you are the best at it, you could apply for the post of Ishaq Dar in the 'London cabinet'.

True, situation in the neighborhood is just one factor. The other constant factor continues to be our import heavy economy and lack of manufacturing and export prowess compared to our generous imports funded largely by loans. I've already blabbered about it in the quote of my post from the other day so i'll restrict myself.

I dont think you understand the concept of a free floating exchange rate. These are automatic economic correction measures. Our exports are not picking up pace and our imports are increasing. To make our exports more competitive and imports less so, an uptick in exchange rate is observed. Yes, it puts pressure on our CAD, but that is short termed. Exchange rates are one of the most powerful policy tools a State Bank has.

I understand your pain for Nawaj bin Modi. The destruction that Ishaq bin Dowal put into action is now being upset by these strong policies and you being the pawns of the devil are visibly upset. Please take your crap somewhere else.

Largely agreed save for the naming and shaming part in which pretty much our entire polity is involved. Few politicians have the foresight and genuine patriotism to set aside petty personal political goals and think genuinely about slowing down our fall into the debt trap for which our future generations will pay.

 

[Raj-Hindustani]

It is good for the export-based country but since Pakistan and India are import-based countries.

Really, too bad... Imran Khan completely failed on this. Might reason could be "IMF"..

 

[Baby Leone]

So did you even comprehend the article before you posted it?

How about you read above mentioned lines about 10 times so that you can somewhat understand it.

its a news and i am sure you dont need to "Comprehend" anything for posting a news, now go and ask Samaa TV.

 

[AZ1]

while pakistan got around $2 billion in roshan account

 

[jedijedi]

PTI is the worse thing ever happen to Pakistan.

If we're all posting our PTI, PPP or PML-N hate using imported phones, imported laptops while sitting in imported ACs sipping on an imported drink or water chilled in an imported fridge while lighting our room in imported LEDs, are PTI, PPP or PML-N really to blame or we're just too ashamed to admit our own part in this?
This very site has both its web traffic and email routing through foreign hosts. What do we as Pakistanis export to afford these imported items. Cotton? Keenu? Mango? Salt?
I don't even want to mention the expensive cars 80% of whose parts come from abroad, not to mention the defense equipment, most of which is also imported!
You do realize we export $25-27 billion while our imports are ~$55-62 billion. We spend double of what we earn (the Pakistanis living in Pakistan). Rest comes from loans or remittances.
The very rise of Dollar vs Rupee ensures overseas Pakistanis get more PKR for each dollar that they send home and this might lead to a continuation of the record high inward remittances that we have seen over the past year or two (I know Covid etc and other factors weigh in)..

Your import bill is increasing due to increasing crude prices and exports are very low thus high trade deficit as a result declining rupee.

USD Will hit 200 by year end if imports are not reduced.

Crude is just one factor, i'll add LNG. We have

- Car sales have skyrocketed in the past 12 months and Pakistan imports majority of parts
- imported wheat and sugar to sure up staple reserves.
- a government in its last 2 years, a time when they would naturally want to spend liberally and encourage businesses (a large portion of which depend on imports) so that they can see local wealth creation/GDP rise.

The neighbor dude is rational when he can be ultra-national like so many other Indians on this forum! Nice to see!

 

[muhammadhafeezmalik]

Or
Rupee hits all time low against US Dollar.

 

[Crimson Blue]

its a news and i am sure you dont need to "Comprehend" anything for posting a news.

Priceless

 

[Desprado]

https://twitter.com/x/status/1437696169438851077

 

[bluesky]

PTI is the worse thing ever happen to Pakistan.

PTI's Imran Khan is trying his best to salvage Pakistan. The mess was created by all the govts in Pakistan after Ayub Khan.

IK is the second best after Ayub Khan. At least IK is not a thief like Nawaz Sharif.

 

[TNT]

PTI govt is unable to improve the economy or governance. This govt doesn't even have the proper writ. The old PMLN employed bureaucracy and other employees are making a fool out of this dumb govt and they dont even realize it. There is no writ or fear of govt and the govt officials are dumb and dnt know what to do.
Still the govt could not produce export friendly policies, still its extremely difficult to export anything and there are so many hurdles n red tape. Why dont these morons understand that there is a need to have super export friendly policies.
This govt is good in one thing and that is "bheek". All his life IK have done fund raising and its exactly how he is running the country. Fund raising for GCC, fund raising from china and fund raising from overseas pakistanis. He is dumb and allowed black money to flow into construction and property and now those sectors are out of reach of common pakistanis. He could have directed that money to export oriented businesses.

 

[Desprado]

The Federal Board of Revenue has updated its cyber security system, which faced a massive hack a couple of weeks ago, up from Rs 70 pirated CD bought from Rawalpindi Sixth Road’s Dubai Plaza.


“We have moved on from such ad hoc measures,” said Syed Ahsen Raza, Member (Technology) of the FBR, while speaking at the National Assembly Standing Committee on Finance, Revenue, Economic Affairs and Statistics.


“An IT manager working for us has found an absolutely free software at pirate.boobs.mymy573.cn and after only three days we also figured out which the correct download button was,” he said. “This will save the exchequer $200, which, given how the dollar is at 168, is quite a lot.”


“Yes, yes, our data will be absolutely safe, we have made sure of that. There won’t be another hack,” he said. “I find such press reports extremely detrimental to the effective working of our organisation. Just because there is a massive hack doesn’t mean the media should go around saying there has been a massive hack. That is not the role of the media.”


The session had to be cut short as Raza had to rush to the FBR building after being informed of a massive hack of the FBR database.

FBR updates security software from Rs70 pirated CD bought from Dubai Plaza to free suite downloaded from pirate.boobs.mymy573.cn

The Federal Board of Revenue has updated its cyber security system, which faced a massive hack a couple of weeks ago, up from Rs 70 pirated CD bought from Rawalpindi Sixth Road’s Dubai Plaza.“

profit.pakistantoday.com.pk