Should Pakistan Switch their Currency

[AZADPAKISTAN2009]

I have been thinking recently , and I just noticed

Pakistan is losing Tones of revenue in Banks , just becasue we have Pakistani Rupee.

Rupee value goes down , and instantly billions are lost even if it changes by 1 rupee.

I think we need to switch our currency immediately into a international currency like Dollar or something similar

Because Rupee has gone form 60 rupees for dollar to now 85, I think we should just start to use dollar are unit currency

 

[great]

I have been thinking recently , and I just noticed

Pakistan is losing Tones of revenue in Banks , just becasue we have Pakistani Rupee.

Rupee value goes down , and instantly billions are lost even if it changes by 1 rupee.

I think we need to switch our currency immediately into a international currency like Dollar or something similar

Because Rupee has gone form 60 rupees for dollar to now 85, I think we should just start to use dollar are unit currency

How many would be able to buy those? It involves costs too.

 

[StingRoy]

You could peg your currency to the dollar which means that whatever value the dollar changes, will be reflected on your currency.

But if you know the basics of economy you can easily conclude that making a currency stronger means that you need to spruce up your economy to be stronger and make your manufacturing stronger. Pegging against any other currency would not help increase the value of the economy. Given the current situation I am sure a lot of non resident Pakistanis must be happy if they are remitting money into the country.

 

[AZADPAKISTAN2009]

Well at present , the RUPEE value has gone down from 23-40 rupees / dollar to almost 84-85 rupees / dollar

So in such circumstances, its effecting revenues saved in local Banks example if we have 1 million rupees example, if rupee changes , that lessens automatically

Even when production in our farms and economy is consistent

 

[AZADPAKISTAN2009]

I think in 1-2 years we would save billions by switching over to Dollars as our trade will be done in US funds which are more stable vs Rupee

I mean we pay for oil in dollars, but we sell our own goods in Rupees , and this is why we are getting hammered in markets

Switching to dollar trade , we should make also revenue in pure dollar amount for our vegetable/fruits trade and other exports

It makes no sense to hang on to Rupees which is almost 100 to 1 ration vs dollar

 

[Avatar]

I think in 1-2 years we would save billions by switching over to Dollars as our trade will be done in US funds which are more stable vs Rupee

I mean we pay for oil in dollars, but we sell our own goods in Rupees , and this is why we are getting hammered in markets

Switching to dollar trade , we should make also revenue in pure dollar amount for our vegetable/fruits trade and other exports

It makes no sense to hang on to Rupees which is almost 100 to 1 ration vs dollar

Try studying what you can about currency on the internet, and then make educated suggestions.

 

[DelhiDareDevil]

I think Pakistan should convert they currency to the Yaun.

What do you say?