US dollar jumps to Rs146.25 in open market

[VCheng]

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.

That may be true, but please do keep in mind that all 200 million of them simply consume more than they produce. Hence nobody wants the currency that they print, leading to a steady decline in the value of the PKR. That is the basic foundation that is adverse to the value of the PKR.

 

[Yaseen1]

business is facing decline.I know a big steel mill is facing decline in sale of concrete reinforcements due to decline in construction activity this will result in to less tax payment to govt and unemployment

 

[H!TchHiker]

This is good news..Har cheez apni asli qeemat pa mlni chaeya

 

[Fawadqasim1]

That may be true, but please do keep in mind that all 200 million of them simply consume more than they produce. Hence nobody wants the currency that they print, leading to a steady decline in the value of the PKR. That is the basic foundation that is adverse to the value of the PKR.

Almost all countries consume more than they produce there are some exception please don't quote them we conveniently forget that we have been in a state of war for the last 18 years add mismanagement and hyper corruption of zardari and nawaz to it. go to Bazar and try to buy food clothing etc with dollars I am not talking
about a few big malls and I am sure even they won't accept it easily we trust our money but our leaders have failed us time and time again.

 

[Neptune_]

Good news for expat Pakistanis. Its a great time for them to buy more properties in Pak.

 

[Fawadqasim1]

Here you go

 

[VCheng]

Almost all countries consume more than they produce there are some exception please don't quote them we conveniently forget that we have been in a state of war for the last 18 years add mismanagement and hyper corruption of zardari and nawaz to it. go to Bazar and try to buy food clothing etc with dollars I am not talking
about a few big malls and I am sure even they won't accept it easily we trust our money but our leaders have failed us time and time again.

All the countries that consume more than they produce have declines in their currency value, and there is no avoiding it in the long run. That is a simple and basic economic fact.

It is good that there is trust in the PKR, as long as it is understood that its value will remain on a steady decline until Pakistan produces more, or consumes less, or a combination of both factors.

Good news for expat Pakistanis. Its a great time for them to buy more properties in Pak.

Those who receive foreign remittances in hard currencies will be largely immune from this decline in PKR value. And tourists will find visiting Pakistan a better deal.

 

[Fawadqasim1]

All the countries that consume more than they produce have declines in their currency value, and there is no avoiding it in the long run. That is a simple and basic economic fact.

It is good that there is trust in the PKR, as long as it is understood that its value will remain on a steady decline until Pakistan produces more, or consumes less, or a combination of both factors.



Those who receive foreign remittances in hard currencies will be largely immune from this decline in PKR value. And tourists will find visiting Pakistan a better deal.

I was not talking about steady decline pleas
Watch the news clip on post #39 that's what I was talking about.

 

[VCheng]

I was not talking about steady decline pleas
Watch the news clip on post #39 that's what I was talking about.

A decline is a decline, whether steady or abrupt. As long as the basics are adverse, down the PKR will go, and everyone will face the consequences.

 

[Fawadqasim1]

A decline is a decline, whether steady or abrupt. As long as the basics are adverse, down the PKR will go, and everyone will face the consequences.

We have always faced the consequences
we grew up facing the consequences we are immune now.don't you fikar

 

[Nothing]

Only in the open market. The official rate and policy remain unchanged as of now, but it might change after the bailout is formally approved and signed.

Won't this increase corruption? Buy from bank and sell it in open market?

 

[VCheng]

We have always faced the consequences
we grew up facing the consequences we are immune now.don't you fikar

IshaAllh sab kuch theek ho jai gaa. Aap ney ghabrana bilkul nahi hey. Mein bhi nahin ghabraon gaa.

Won't this increase corruption? Buy from bank and sell it in open market?

It is not easy to buy from the banks at official rates, which is why the open market flourishes to the extent that it does.

 

[litman]

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.



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

you are right but so far he has been unable to prioritize the problems of pakistan. he is wasting time and resources on relatively minor issues rather then the major ones. he hasnt started any project other then the improvment in railway which will earn some revenue for the government.

 

[VCheng]

you are right but so far he has been unable to prioritize the problems of pakistan. he is wasting time and resources on relatively minor issues rather then the major ones. he hasnt started any project other then the improvment in railway which will earn some revenue for the government.

I am sure PMIK and his team are working as fast and best as they can.

 

[litman]

I am sure PMIK and his team are working as fast and best as they can.

lets hope for the best because he is the last hope for this country. if he fails and the country goes back in the hands of patwaris, jiyalas, mullah diesel and bilours pak will be worse then somalia. even today i am afraid of venezuela like situation in pakistan.