US DOLLAR MARCHES PAST HISTORIC RS172 MARK IN OPEN MARKET

[FOOLS_NIGHTMARE]

The United States dollar has surged to a historic high in Pakistan’s open market as it trades above the Rs172 mark on Wednesday after gaining Rs0.20 over the bleeding rupee, ARY News reproted.

In the past four months alone, the dollar value has jumped Rs18 as on May 7, it stood Rs152.28.

This surge in the open market followed the bullish inter-bank trade which, too, noted routing of local currency against the greenback.

In the interbank trade today, the US dollar stands at Rs170.3 after gaining Rs0.33 over the Pakistani rupee.

On the other hand as reported yesterday, the price of gold fell by Rs200 per tola in Pakistan on Tuesday, according to Muhammad Arshad, the chairman of the All Pakistan Jewellers Manufacturers Association.

One tola of precious yellow metal is now available for Rs113,400 in the domestic market.

Similarly, 10 grams of gold fell by Rs170 to Rs97,222, he said.

US dollar marches past historic Rs172 mark in open market

KARACHI: The United States dollar has surged to a historic high in Pakistan's open market as it trades above the Rs172 mark on Wednesday after gaining

arynews.tv

 

[Windjammer]

We all read newspapers and watch TV.
So kindly stop copy pasting everything you see in the media.
This forum is looking more and more like a village gazette.

 

[Oracle]

thankyou imran khan
now only idiots will blame PMLN rather than asking PTI on economy

 

[FOOLS_NIGHTMARE]

 

[American Pakistani]

This won't stop unless our awaam is pushed to come out of "imported maal" mentality.

When I go to Pakistan I see everyone, from shopkeepers to malls to cousins to neighbors, even thelay wala bragging about "imported maal".

Secondly pakistan farig awaam dependent on govt should start making their lives useful and start exporting. There are lot of things a today's youngster can do thanks to internet.

 

[HammerHead081]

This won't stop unless our awaam is pushed to come out of "imported maal" mentality.

When I go to Pakistan I see everyone, from shopkeepers to malls to cousins to neighbors, even thelay wala bragging about "imported maal".

Secondly pakistan farig awaam dependent on govt should start making their lives useful and start exporting. There are lot of things a today's youngster can do thanks to internet.

Nowhere in the world does any industry grows if government doesn't brings reforms, new policies, creates an environment and provides incentives. This is just your another coping tactic just because PTI government is performing terribly and you want to put the blame on Pakistani citizens.

This depreciation of dollar is thanks to your current finance minister who had a bad ego trip and got gdp growth rate 4%+ which isn't sustainable in Pakistan and automatically leads to CAD widening up massively and then leading towards rupee depreciation. He can't understand a simple thing that Pakistan has to keep GDP growth rate at 2-3% until exports rise up significantly and structural reforms are brought.

However, it feels like IK and his new FM tried to score easy political points by showing high gdp growth rate but it backfired.

 

[Waterboy]

Nowhere in the world does any industry grows if government doesn't brings reforms, new policies, creates an environment and provides incentives. This is just your another coping tactic just because PTI government is performing terribly and you want to put the blame on Pakistani citizens.

This depreciation of dollar is thanks to your current foreign minister who had a bad ego trip and got gdp growth rate 4%+ which isn't sustainable in Pakistan and automatically leads to CAD widening up massively and then leading towards rupee depreciation. He can't understand a simple thing that Pakistan has to keep GDP growth rate at 2-3% until exports rise up significantly and structural reforms are brought.

However, it feels like IK and his new FM tried to score easy political points by showing high gdp growth rate but it backfired.

Exactly. The country can't sustain a GDP growth of 3% plus and they're trying to overheat it.
I am still looking for any kind of reforms this government brought?
No economic reforms, these dimwits pumped 1.2 billion dollar to sustain PKR for 2 3 months, N did it better by keeping the currency stable for 5 years by injecting 8 billions dollars. What have these incompetent shit people done anything out of the ordinary?

Rhetoric, schematics and illusions is what this party focuses on, they're not gonna win the next elections until the army as usual rigs it in their favour.

 

[Maula Jatt]

it'll reach 180 pkr and after 8-9 months come back to 165ish

 

[Waterboy]

it'll reach 180 pkr and after 8-9 months come back to 165ish

How will it come back? Is PTI gonna wave it's magic wand? Come out of this illusion, it's gonna march past 200 mark.

 

[Maula Jatt]

How will it come back? Is PTI gonna wave it's magic wand? Come out of this illusion, it's gonna march past 200 mark.

international market should normalize and calm down

 

[Waterboy]

international market should normalize and calm down

So you're putting the country's future on international market status?
Bhai jan we need structural reforms and hardcore economic revamp.
We need to focus on our exports.

 

[HammerHead081]

Exactly. The country can't sustain a GDP growth of 3% plus and they're trying to overheat it.
I am still looking for any kind of reforms this government brought?
No economic reforms, these dimwits pumped 1.2 billion dollar to sustain PKR for 2 3 months, N did it better by keeping the currency stable for 5 years by injecting 8 billions dollars. What have these incompetent shit people done anything out of the ordinary?

Rhetoric, schematics and illusions is what this party focuses on, they're not gonna win the next elections until the army as usual rigs it in their favour.

There have been no reforms, its a complete clown show. They just keep on shuffling government employees and creating instability. Have changed IG Punjab multiple times in a few months.

Where are the governance, police, economic, domestic, justice reforms etc.? Nowhere to be seen. The ones trying to make a change like the recent domestic bill, it got rejected by Imran Khan himself after he felt a little pressure from TLP. He has no cojones, he is as incompetent as they come.

 

[Mav3rick]

This won't stop unless our awaam is pushed to come out of "imported maal" mentality.

When I go to Pakistan I see everyone, from shopkeepers to malls to cousins to neighbors, even thelay wala bragging about "imported maal".

Secondly pakistan farig awaam dependent on govt should start making their lives useful and start exporting. There are lot of things a today's youngster can do thanks to internet.

How do we come out of it when all local products are crap? Every local product is crap and all control mechanisms are designed to promote corruption rather than to control quality of products.

Besides, we do not produce most of the electronics, computers, LEDs, Vehicles etc.,.....this is another problem; something we neglected in the past 50 years and are still neglecting. Our Industrialists and Businessmen are so dumb, they are still living in the 50's and our real estate is the only attraction to big investors. We have problems and we are unable to solve them.

 

[Maula Jatt]

So you're putting the country's future on international market status?
Bhai jan we need structural reforms and hardcore economic revamp.
We need to focus on our exports.

yeah
and who was doing a better job at exports?

PPP, PMLN, PTI

I feel
1-PTI
2-PPP
3-PMLN

this is the best option

 

[wali87]

Pathetic state of affairs thanks to the current government’s hopeless economic policies. It appears now that there are only two things the PTI government is good at; giving false hope to the public and blaming everyone but themselves for their hopeless performance.

The dollar has depreciated from 107 rupees to 172 under the current regime, The prices of commodities as well as utilities has gone way past an ordinary person’s reach. The public is frustrated but can’t do anything at the moment however the do practice their one right every 5 years. Looking at the mood of the public in the country it’s apparent that they will vote for anyone but PTI in the upcoming general elections. Tbh the public don’t care what explanations government gives them, they gave them a chance by voting for them at this government blew it badly.

Its sad tho, for once we all thought that Imran Khan would be the saviour of this nation, his actions however proved otherwise.