• Saturday, July 20, 2019

US dollar drops by more than 3 rupees in open market against Pakistani Rupee.

Discussion in 'Pakistan Economy' started by MZ-PDF, Jul 28, 2018.

  1. MZ-PDF

    MZ-PDF FULL MEMBER

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    LAHORE - The US dollar on Saturday crashed against Pakistani rupee while dropping further by more than 3 rupees in open market.

    In two days, the rate of Dollar has reached Rs123.75 after dipping by 4.75.

    Forex Dealers Association says that the confidence of business community restored due to peaceful elections and occurrence of possible PTI government in the country.

    The individuals involved in dollar stocking also prefer its sale.

    At least four million dollars have been sold in open market from Friday till date which can further decline the rate of dollar, added the association.

    According to a leading money changer, speculators foresee that there is a little chance that dollar would climb to new highs in short term. A selling spree was witnessed at the money changers and there were no buyers and only sellers.

    There were speculations that the new government would ask support from friendly countries, donor agencies and even financial institutions to bail out the economy from the present gloom.

    Source: https://timesofislamabad.com/28-Jul...es-against-pakistani-rupee-in-the-open-market
     
  2. Sugarcane

    Sugarcane ELITE MEMBER

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    Looks like another trap in making for PTI
     
  3. Imran Khan

    Imran Khan PDF VETERAN

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    bc mery loan bardh gay phir se
     
  4. Khan_21

    Khan_21 SENIOR MEMBER

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    Its Trading 1usd = 121 rupees now. IK effect and the guy hasn't even started his term
     
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  5. GHALIB

    GHALIB BANNED

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    welcome change .
     
  6. Darth Vader

    Darth Vader SENIOR MEMBER

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    Pakistan should keep dollars price high for some time till ruppee start to build its position just to cover pmln screw ups, and economy is back on track
    Low price of dollar is always not a good thing
     
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  7. Yaseen1

    Yaseen1 SENIOR MEMBER

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    i think it was artificially made expensive so people vote more for pti than pmln
     
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  8. Imran Khan

    Imran Khan PDF VETERAN

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    but dropping free fall is also not good sir real price of dollar is between 103 to 113 now a days
     
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  9. hassan zohaib

    hassan zohaib FULL MEMBER

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    Guys do u really think that this devaluation of dollar relates with investors or business' confidence in current scenario?
    Imo, devaluation of dollar and rupee both have signals..
     
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  10. Darth Vader

    Darth Vader SENIOR MEMBER

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    Lets say Pak decides to keep artificial price for 117 or 120
    They will have 4 to 7 ruppee buffer and in mean that money will help ;)
     
  11. GHALIB

    GHALIB BANNED

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    not possible
     
  12. Sugarcane

    Sugarcane ELITE MEMBER

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    If we factor in 5% devaluation of PKR than it should be between 128 - 130. SBP must maintain the rates at real value instead of artificial dips and rises
     
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  13. Yaseen1

    Yaseen1 SENIOR MEMBER

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    it is possible as it is under control of finance minister like ishaq dar was blamed of artificially keeping dollar low.all this seems manipulated until new govt forms and pass one year then reality will be evident
     
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  14. SecularNationalist

    SecularNationalist SENIOR MEMBER

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    Dude seriously from where did you get that exchange rate?On TV they are saying the same but live google search and the app on my smartphone is showing 1usd=129pkr .
     
  15. Sugarcane

    Sugarcane ELITE MEMBER

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    Ishaq Dollar wasted all forex reserves on d!ck measuring contest with opposition to keep dollar near 100.
     
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