Rupee slumps to all-time low of 134 against US dollar

[SunilM]

Dollars should be bought. What I have heard though is that they are not even available in the open market such is the scarcity!

 

[HAIDER]

Let it fall, see how far it goes. If try to control that would hurt the economy.

 

[VCheng]

Expected, it may reach Rs150 soon. Good for exports and bad for imports. Also bad for people who consume imported items.

Please keep in mind that many inputs that go into creating exportable goods are also imported.

 

[BHarwana]

The News is reporting this

https://twitter.com/x/status/1049555327195246593

 

[AZ1]

The News is reporting this

https://twitter.com/x/status/1049555327195246593

If Pakistan didn't approach IMF then this must be the reason

 

[CIS-TRANS]

Please keep in mind that many inputs that go into creating exportable goods are also imported.

Exactly we import all raw materials , so if imported raw material are expensive it will definitly increase the price of exportable products in the end.

 

[BHarwana]

If Pakistan didn't approach IMF then this must be the reason

Rupee going down is good for us it is not bad if we keep rupee down for few months it will help us. Now rupee going down because of Pakistan going to IMF was a wrong reaction of market because going to IMF means we have dollars coming into the country and rupee should strength.
At this moment a more close watch is needed to study market reaction but the way rupee went down was confused because it never achieved a stable low point and was bouncing back up.
Pakistan can do without IMF but that will be a very difficult pill to go down our throat. We have other options than IMF as well and in my understanding Pakistan will use them.

 

[Sugarcane]

I didn't understand that in one day it went to almost 139 and then came down to 131? Did PTI government also intervened like PMLN or it's was exchange mafia playing trick to make money?

 

[BHarwana]

I didn't understand that in one day it went to almost 139 and then came down to 131? Did PTI government also intervened like PMLN or it's was exchange mafia playing trick to make money?

It went to 138 for few seconds and hardly got any trade there. So when it was not being trade at that rate dollar started sliding back sharply. Basically the economic cry baby attitude is doing this of PTI. Indian loves to tag me in any such event I checked every exchange I could and rate was down but news channels were going crazy on it. Now tomorrow morning dollar is going to slide back to its original rate and further strength in coming days.

 

[Nilgiri]

@Nilgiri @SunilM

NEEM HAKEEM... KHATRAI JAAN...

@BHarwana at least people are investing in India...

Wal-Mart, Xiaomi, Samsung, Qualcomm... just few names from a long list...

Just sit back and watch the fun reality play out lol.

 

[BHarwana]

Just sit back and watch the fun reality play out lol.

Yes relax just like you are relaxing on Indian economy going.down the drain. Today both IMF and Moody's down played you growth as well. All you can do is relax and nothing else because you don't even know on the govt scale that which factor is down playing your economy. There are 30 different statement issued by your finance minister just on the devaluation of your currency. One day he blamed a crow other day an eagle.

 

[BATMAN]

I have only one condition to join Pinki Party and that's is they bring $ to same as Musharraf time. i.e. 1$=45pkr.

 

[Thorough Pro]

That is why we NEVER argue with stinky Indians, Mr. Tom. LOL

Sure we can't beat you. And do you know exactly why ????

 

[BATMAN]

Let it fall, see how far it goes. If try to control that would hurt the economy.

In that case, it matters not if gullu butt is PM.

 

[Verve]

5th Gen war ... attack the rupee just when the negotiations with IMF start and PMLN + other opposition decide to start protests (with a topic of inflation)