US dollar reaches Rs160 in interbank market

[Norwegian]

The country is in dire economic straits, no doubt, but not bankrupt.

Country is morally bankrupt because majority avoids direct taxes.

 

[Yaseen1]

nothing is above Pakistan if country comes under thread no one deserve to remain in govt and this govt will not remain if certain thresholds are crossed as establishment will not tolerate this nonsense for long.These are the fruits of tax amnesty schemes which promote people to do corruption and then legalise such black money through such schemes

Absolutely not. This government deserves its full term in office.

 

[Baghial]

US dollar reaches Rs160 in interbank market


KARACHI: US dollar reached Rs160 in the interbank market on Wednesday.

The US dollar rose by Rs2.2 at the start of the trading.

The rupee has been falling against the dollar following an agreement with the International Monetary Fund on a $6 billon loan with expected strict conditions including a “market determined” exchange rate.

The rupee’s official exchange rate is supported by the central bank under a de facto managed float system and many analysts consider the currency to be overvalued.

According to data from the State Bank, the central bank’s foreign exchange reserves as of May 3 stood at $8.984 billion, equivalent to less than three months of import payments.

it will go till 200 ----nodoubt about it ---

 

[Viny]

The drastic fall of PKR must be creating lots of issue with common man.
Given that lot of things consumed by locals is imported, the businessman must be having hard time to keep up sales price with changing dollar value as well as keeping up the trust of consumer.

Similarly the consumers budget must be getting very high hit...salaries wont change as per changes in $$ exchange rates nor does it would cope up with inflation in realtime. Hard time indeed, how the mass handles this economic shock will define which way Pakistan is heading.

Heart goes with all the pakistani citizens, may this hard time gets over at earliest and may there be peace and happiness in life.

 

[Norwegian]

nothing is above Pakistan if country comes under thread no one deserve to remain in govt and this govt will not remain if certain thresholds are crossed as establishment will not tolerate this nonsense for long.These are the fruits of tax amnesty schemes which promote people to do corruption and then legalise such black money through such schemes

What can establishment do? They remain silent when country was going down hill economically under Zardari / Nawaz.

 

[Yaseen1]

now we are not in condition to bear more like in past so there will be very little space available for this govt otherwise our army will be unable to meet its necessary expenses

What can establishment do? They remain silent when country was going down hill economically under Zardari / Nawaz.

 

[Norwegian]

now we are not in condition to bear more like in past so there will be very little space available for this govt otherwise our army will be unable to meet its necessary expenses

Establishment didn't intervene when it could. Remember Musharraf handed over economy with enough reserves and dollar price at 65. During PMLN / PPP it reached 130. Which normal currency loses 50 percent value in 10 years? So it makes no sense why establishment would do anything now.

 

[VCheng]

Establishment didn't intervene when it could. Remember Musharraf handed over economy with enough reserves and dollar price at 65. During PMLN / PPP it reached 130. Which normal currency loses 50 percent value in 10 years? So it makes no sense why establishment would do anything now.

We all know that the civilian and military leaderships on "on the same page" probably for the first time in Pakistan's history.

What can establishment do? They remain silent when country was going down hill economically under Zardari / Nawaz.

Silent, but deadly to their regimes nonetheless.

nothing is above Pakistan if country comes under thread no one deserve to remain in govt and this govt will not remain if certain thresholds are crossed as establishment will not tolerate this nonsense for long.These are the fruits of tax amnesty schemes which promote people to do corruption and then legalise such black money through such schemes

Please see the above.

 

[B.K.N]

Silent, but deadly to their regimes nonetheless

Agar Pakistani establishment jaisi tum kehtay ho aisi hoti to ab tak tumhari lash decomposed ho gai hoti

 

[Norwegian]

Please see the above.

True but establishment doesn't have any solutions to economic mess either. Last time when Musharraf took over, country was in similar shape (nearly bankrupt) by the same PPP / PMLN. Only 9/11 saved it. Debt to GDP back then was nearly 88 percent.

 

[VCheng]

True but establishment doesn't have any solutions to economic mess either.

This time salvation lies in implementing the structural reforms that they have agreed upon with the IMF bailout. If they follow it, everything should work out.

 

[Reddington]

Bro

I’m not an economist but will this help the economy in any way shape or form?

I am not an economist as well and imo No.
This won't help economy one bit. None whatsoever.

 

[VCheng]

I am not an economist as well and imo No.
This won't help economy one bit. None whatsoever.

It will help the economy by making imports more expensive, and reducing local demand for imported goods, thereby improving the balance of payments situation.

 

[Reddington]

It will help the economy by making imports more expensive, and reducing local demand for imported goods, thereby improving the balance of payments situation.

Thank you for stating the obvious.

 

[VCheng]

Thank you for stating the obvious.

And yet you expressed an opinion that goes against the obvious. Interesting thought process.