Rupee hits all-time low of 148.5 against US dollar in inter-bank market

[KhanBaba2]

In a free market the currency keeps devaluating till there is an equilibrium in the inflow and outflow of foreign exchange.

The PKR will keep going down till imports drop by around 10 to 15 billion or you manage to increase exports substantially.

 

[Abdussamad]

In a free market the currency keeps devaluating till there is an equilibrium in the inflow and outflow of foreign exchange.

Only if the cost of imports are passed on to end consumers. In Pakistan there are various price controls that prevent passing on the cost. For example our largest import is oil at 23% share but oil prices are tightly regulated. The PTI government has been especially reluctant to pass on oil price increases. Prices of drugs are also tightly regulated which is resulting in the hollowing out of our pharmaceutical industry. Drugs are mostly made on the basis of imported raw materials.

 

[VCheng]

Only if the cost of imports are passed on to end consumers. In Pakistan there are various price controls that prevent passing on the cost. For example our largest import is oil at 23% share but oil prices are tightly regulated. The PTI government has been especially reluctant to pass on oil price increases. Prices of drugs are also tightly regulated which is resulting in the hollowing out of our pharmaceutical industry. Drugs are mostly made on the basis of imported raw materials.

Let the markets determine the prices.

 

[bafxet]

No need to worry...

PM forms body to control rupee devaluation

My friend this is yesterday's news...FX markets response is that we give a damn to your committee.

 

[KhanBaba2]

Only if the cost of imports are passed on to end consumers. In Pakistan there are various price controls that prevent passing on the cost. For example our largest import is oil at 23% share but oil prices are tightly regulated. The PTI government has been especially reluctant to pass on oil price increases. Prices of drugs are also tightly regulated which is resulting in the hollowing out of our pharmaceutical industry. Drugs are mostly made on the basis of imported raw materials.

The 9 billion from IMF and others will last around 10 months in that case. The billions from SA, UAE and China are already gone.

 

[bafxet]

In a free market the currency keeps devaluating till there is an equilibrium in the inflow and outflow of foreign exchange.

The PKR will keep going down till imports drop by around 10 to 15 billion or you manage to increase exports substantially.

That day is not gonna come. If you stop importing everything except for crude oil. Your import bill be USD 16+ billions.

 

[Roybot]

Expect it to hit 155 once the market reopens.

 

[KhanBaba2]

That day is not gonna come. If you stop importing everything except for crude oil. Your import bill be USD 16+ billions.

You have to decrease by 10 billion. No decrease to 10 billion.

But I think in a free floating currency you fuel import may also go down a little.

All this will depend on IMF insisting on a free PKR. That decision can be overridden by politics.

If overridden you will be back to IMF after 5 years.

 

[INDIAISM]

@BHarwana

1INR = 2.11pkr

very bad very Sad

 

[Fawadqasim1]

Let the markets determine the prices.

but sir if the market is being manipulated by save corrupt and corruption lobby on say monthly basis then what. They have hundreds of billions of rupees not us

 

[FOOLS_NIGHTMARE]

Allah raham farmae ameen.

 

[Fawadqasim1]

Allah raham farmae ameen.

128 par Tau pmln kee govt laykay gaee thee
Hafza kamzoor Nazar ataa hay inka

 

[FOOLS_NIGHTMARE]

128 par Tau pmln kee govt laykay gaee thee
Hafza kamzoor Nazar ataa hay inka

Abbasi handed over to the care takers at RS 115.Saying that i am a bit depressed on the current dismal state of the economy. If i was IK i would invite the whole parliament to formulate a collective strategy moving forward on the economy. Currently it seems like a meltdown sadly.

 

[H!TchHiker]

Let market determine the asli qeemaat..IK knew it

‏Verified account @ImranKhanPTI


شریفوں کی کرپشن اور ڈار کی منی لانڈرنگ سے ملکی معیشیت کیا کم تباہ ہوئی تھی جو ڈار کی تباہ کن معاشی پالیساں ہی جاری رکھی گئیں۔ ان پالیسیوں کی بدولت روپیہ گزشتہ چند ماہ سے مسلسل منہ کے بل گر رہا ہے اور قوم کی کمر بیرونی قرضوں کے ناقابل برداشت بوجھ تلے دبی جاتی ہے۔

 

[FOOLS_NIGHTMARE]

Let market determine the asli qeemaat

It will destroy the basic fabric of the poor. Other countries tried it and are now in HYPER inflation.