US dollar jumps to Rs146.25 in open market

[VCheng]

Google says other wise.

View attachment 560115

Official rate, which is unchanged as of now. Open market rates are higher.

 

[pak-marine]

has Pakistan agreed to imf term of market to decide the exchange rate ?

 

[slapshot]

has Pakistan agreed to imf term of market to decide the exchange rate ?

I believe so, Pakistan is asked not to control the rate of USD and let it settle in market.

 

[bafxet]

If we want to stop our country from sinking then there must be a very strict moratorium on selling dollars.

 

[maithil]

If we want to stop our country from sinking then there must be a very strict moratorium on selling dollars.

And thats exactly what IMF has stopped state from doing.

 

[bafxet]

It is surprising to see that there is no uproar. People have become so pathetic that they don't look beyond themselves. Are we waiting for the worst to come a d hit us

 

[Foxtrot Delta]

Fake news its still 140 PKR . people have internet they can google it anytime. this is a fake topic. but in next 3 years state bank does predict that $ will be around 156 PKR. next 3 years.

 

[Cash GK]

US dollar jumps to Rs146.25 in open market


Web Desk

MAY 15, 2019

KARACHI: The US dollar reached an all-time high of Rs146.25 in the open market on Wednesday.

The dollar reached the all-time high in Pakistan after an increase of Rs2.25 and was being traded at Rs146.25, according to the rates released by the Exchange Companies Association of Pakistan on Wednesday.

“The investors have taken the IMF conditions as negative, especially with regard to free float of the rupee against the dollar and increasing the interest rate,” Yawar Uz-Zaman, head of Research at Shajar Capital, a brokerage house in Karachi told AFP.

On Tuesday, the rupee closed at Rs144 against the greenback, 0.20 percent weaker from the previous closing of Rs143.70.

https://dailytimes.com.pk/394623/us-dollar-jumps-to-rs146-25-in-open-market/

Again 144 mafia is full rol

 

[ARMalik]

I believe so, Pakistan is asked not to control the rate of USD and let it settle in market.

So the interesting thing is that the Chinese government pegs the Yuan against the US dollar. In other words it fixes its own currency rate against the US dollar. And it has become the 2nd largest economy in the World. Obviously the Clowns sitting in Pakistan think that Chinese are fools and don't want to follow the Chinese since they consider themselves some sort of economic genius.

Just look at the corrupt idiots in Pakistan's government and deep state, and they way they lick the boots of IMF. These people are despicable bunch keeping this Pakistan and its people hostage.

 

[VCheng]

So the interesting thing is that the Chinese government pegs the Yuan against the US dollar. In other words it fixes its own currency rate against the US dollar. And it has become the 2nd largest economy in the World. Obviously the Clowns sitting in Pakistan think that Chinese are fools and don't want to follow the Chinese since they consider themselves some sort of economic genius.

Just look at the corrupt idiots in Pakistan's government and deep state, and they way they lick the boots of IMF. These people are despicable bunch on Clowns keeping this Pakistan and its people hostage.

Except that China has a huge BoP surplus, while Pakistan has a large deficit.

And the Chinese peg is to keep its currency undervalued, not falsely overvalued.

 

[ARMalik]

Except that China has a huge BoP surplus, while Pakistan has a large deficit.

What Pakistan needs is a stable currency first. When you have a stable currency surpluses will come later. The so called free currency markets are so heavily manipulated that it is impossible for Pak Rupee to gain any stability. The rupee will always be manipulated no matter what. To stop this, the Pak Rupee needs to be pegged, and the only logical way of doing it is to peg the rupee to the Chinese Yuan, and not to the US dollar. The advantage is that Yuan is convertible into Gold. And the price of Gold is the most stable it has ever been. And Gold can buy any currency, and it can buy any commodity example, Oil, Coal, etc.

 

[VCheng]

What Pakistan needs is a stable currency first. When you have a stable currency surpluses will come later. The so called free currency markets are so heavily manipulated that it is impossible for Pak Rupee to gain any stability. The rupee will always be manipulated no matter what. To stop this, the Pak Rupee needs to be pegged, and the only logical way of doing it is to peg the rupee to the Chinese Yuan, and not to the US dollar. The advantage is that Yuan is convertible into Gold. And the price of Gold is the most stable it has ever been. And Gold can buy any currency, and it can buy any commodity example, Oil, Coal, etc.

So how does the PKR get stable without the underlying basics supporting its value? There is nothing stopping the government from pegging the PKR to the Yuan instead of the USD. I wonder why they haven't done it already. Such a simple solution.

IK has failed miserably in economic front.

Not yet. We need to give PMIK the rest of his term to be able to judge his performance.

 

[Reddington]

Not yet. We need to give PMIK the rest of his term to be able to judge his performance.

5 years is too less to do much to be honest. PM IK needs atleast 20 years to make NAYA Pakistan.

 

[VCheng]

5 years is too less to do much to be honest. PM IK needs atleast 20 years to make NAYA Pakistan.

I am sure that he will be rewarded with more terms in office if he continues to deliver the results for those who put him in office.

 

[ARMalik]

So how does the PKR get stable without the underlying basic supporting its value? There is nothing stopping the government from pegging the PKR to the Yuan instead of the USD. I wonder why they haven't done it already. Such a simple solution.

My friend that's because they are SoBs running this country and keeping 200 million people hostage. This is the inevitable conclusion I have reached. Think of it, China, HK, Vietnam, Middle Eastern countries, all Peg their currencies, and these currencies are the most stable in the world.