Rupee loses further ground to trade at 164.5

[ejaz007]

So no major money spinner except perhaps cement. Whatever the IMF plan, unless there is something you provide at a competitive cost and boost your exports - you won't get much traction in reviving the economy.

We are constantly increasing cost of electricity, gas and fuel. This all adds to the manufacturing cost.

In the current budget we have increased customs duty on import. The raw material shall become expensive resulting in end product being expensive.

 

[wali87]

Unfortunately, the people who are still supporting and standing by this evidently incompetent government without having any direct affiliation with it, will be the real losers in the end I feel.
I truly feel sorry for them as they are stuck in disbelief, or more likely a state of denial.
I mean most of here were hopeful that things would change for the better but they didn’t. In fact they are getting worse and worse with each passing day.
So let’s stop lying to ourselves at least and begin accepting the fact that we have been fooled once again. Only in a much more disgustingly sinister way.

I have not seen any leader in Pakistan in the past or present who is as good as Khan at lying and giving false hope. I did believe in him but actions speak louder than words and clearly Khan has not lived up to a single promise.

 

[Jackdaws]

We are constantly increasing cost of electricity, gas and fuel. This all adds to the manufacturing cost.

In the current budget we have increased customs duty on import. The raw material shall become expensive resulting in end product being expensive.

Seems like a vicious cycle. If you don't make enough finished goods like cars, medicines, cell phones etc. for which there is always a demand - you will be worse off.

 

[Fracker]

True. And that's the first time the interbank rate is higher than open market.

So this is government driven - for what benefit?

News is that this is for amnesty scheme and loan repayment ... So that people can exchange cash $ to deposit rupee for declaring. And this will continue until 30 June.

In short, this government is incapable.

Long, as per this government there is 10billion dollar difference in trade. Now government is waiting till people can't afford the imports and difference come down automatically. And that difference get filled up. (Which is ridiculous)

200

It will not, this is the mark when if reached government will intervene. And as my analysis if that mark is meet government can never control the dollar afterwards.

 

[Reddington]

It will not, this is the mark when if reached government will intervene. And as my analysis if that mark is meet government can never control the dollar afterwards.

I have heard that under IMF programme, rupee will be 200 by the year's end or in first quarter of next year and then from there on till the end of IMF program in 2022, rupee will be around 250 - 280.

 

[Imran Khan]

this gov is not doing well man i am sick of this

 

[Fracker]

I have heard that under IMF programme, rupee will be 200 by the year's end or in first quarter of next year and then from there on till the end of IMF program in 2022, rupee will be around 250 - 280.

Any proof? Since IMF can't guarantee any number. So everything else is just speculation.

PS: if dollar hit 200, Pakistan economy will shrink to around 220. Which Pakistan economy will not have enough juice to repay the internal and external debits. unless some miracle happens within 6 months. It's simple calculation which bankers do to identify whether a person will be able to pay the loan or not.

Income-(loan repay+ expenditure ) should be more then 50% income. How IMF can give lower number for economy ? So all are just speculations only.

 

[VCheng]

So no major money spinner except perhaps cement. Whatever the IMF plan, unless there is something you provide at a competitive cost and boost your exports - you won't get much traction in reviving the economy.

Please do not forget the exported manpower that remits the huge amounts of hard currencies that are larger than all the nation's exports put together.

 

[Baburfromsarmarkand]

Please do not forget the exported manpower that remits the huge amounts of hard currencies that are larger than all the nation's exports put together.

No nation becomes rich off of exporting manual labor.

 

[KhanBaba2]

USD can hit 250 I will remain indifferent to it .

You won't. Nobody in Pakistan will.

 

[I.R.A]

You won't. Nobody in Pakistan will.

You are entitled to your opinion and I am to face my challenges and situation .... indians don't understand much, that is why they always fail in trying to make us fail.

 

[Affan-khan]

Problem is that 19 Billion USD foreign currency deficit. No country will give you billions for that "ayashi" you have to correct it. This year it will be around 13 B. Last Month figure was good below 1 B when dollar was @145. and in next Fiscal year deferred payment on oil from saudia and lower import will keep the deficit at manageable level of less than 500 Million a month. that will ease pressure on PKR.

 

[mastaan]

Don't watch the currency for now guys.. It is out of your control.. Focus on economy and finding ways to export more... Prosperity is the ONLY solution here

 

[Maxpane]

ghabarana nahn

 

[Nilgiri]

Don't watch the currency for now guys.. It is out of your control.. Focus on economy and finding ways to export more... Prosperity is the ONLY solution here

People here seem to have things the opposite way around in their analysis. Many simply do not get the exchange rate is a result, not a driver.