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

[H!TchHiker]

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

at least we have honest government now..Everybody voted for it...We have to wait for 5 years to let them implement there policies..We all know more unemployment and inflation is coming for years to come..As i said anybody who has rupee must convert it into the dollar..Government will not interfere now as per agreement..

 

[VCheng]

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

That is exactly why it is important to complete the structural reforms that the government has promised to IMF, in order to improve the financial system overall including the markets.

 

[Turingsage]

@BHarwana

1INR = 2.11pkr

very bad very Sad

This is I believe the lowest it has been in 72 years. Effectively India's economy has progressed twice that of Pakistan over the 72 year average.
India's acceleration however is still in its early phase
The difference's will become more stark by the end of next decade when 1INR is likely to be worth 5PKR

 

[Reddington]

Interestingly, the anticipation about the exchange rate of 1 USD = 200 Pakistani Rupees to the end of December 2019, seems very plausible then. Very catastrophic & devastating for us!
Make no mistake, it's happening and it is escalating!

My sources are talking about rs 225 in next 8 to 9 months is it true
@BHarwana

Yup. Rupee will definitely cross 200 by year's end.

 

[Abdussamad]

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.

What can you do about a country that wants to pick fights with its bigger neighbour, spends way too much on defence and not enough on human development? The economy has never been a priority and decades of these policies have led us to where we currently stand. 57% literacy rate is very bad. No water, no health services either. Because of this state of affairs labour productivity is so bad that not even cheaper labour costs are enough to attract investors. Why would they invest in a country where a bomb goes off practically every month?

 

[VCheng]

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.

The 9 billion are not important. The structural reforms are the real gist of the solution to deal with the crisis.

 

[KhanBaba2]

What can you do about a country that wants to pick fights with its bigger neighbour, spends way too much on defence and not enough on human development? The economy has never been a priority and decades of these policies have led us to where we currently stand. 57% literacy rate is very bad. No water, no health services either. Because of this state of affairs labour productivity is so bad that not even cheaper labour costs are enough to attract investors. Why would they invest in a country where a bomb goes off practically every month?

The lack of investment in manufacturing is the biggest worry. How can you fund imports or repay the loans if you do not jack up manufacturing capacity. Just allowing the rupee to float without making investment attractive will kill the economy.

 

[Baburfromsarmarkand]

I was in Saudi Arabia. I was amazed when I saw "lurpak" butter there. I assumed it was from Pakistan. But when I read it. European. Pakistan can't even export Saudis mangoes. I checked the back of all the al marai mango juices. All Indian.

 

[CHACHA"G"]

Welcome to the dark side ……………………………………………………… Bhootoo (May Allah Punish him) started it with his nationalization ………. fallowers took it to peak with import only (import base economy because of easy money and commissions) economy policies …………..
You Reap What You Sow …………………………
@Retired Troll

 

[kris]

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.

Imf committed to give 6 billion$ over 39 months that too after implementation of laid guidelines/ rules.....

 

[pkuser2k12]

State bank & Economic Ministry employees leaked news that Pakistan has to repay loan so horde the dollar

Blackmailed State Bank to give more rupees for Dollars and made crores in two days


16th May 2019

​

 

[Tameem]

https://twitter.com/x/status/1129106212321222656

On Job training of a PM.
See the Difference

 

[maithil]

https://twitter.com/x/status/1129106212321222656

On Job training of a PM.
See the Difference

Few individuals are making billions in this. They are gaming this to perfection.

 

[bafxet]

We have gofy sitting in as a PM. My country is dearer to me than these cricketer turned politicians. The just one thing he is excellent at is trolling NS.

 

[PAR 5]

The expected economic meltdown of Pakistan at the hands of total incompetence has started. What a bloody mess!