• Tuesday, July 23, 2019

US dollar jumps to Rs146.25 in open market

Discussion in 'Pakistan Economy' started by Reddington, May 15, 2019.

  1. VCheng

    VCheng ELITE MEMBER

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    Official rate, which is unchanged as of now. Open market rates are higher.
     
  2. pak-marine

    pak-marine ELITE MEMBER

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

    slapshot FULL MEMBER

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

    bafxet FULL MEMBER

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

    maithil BANNED

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    And thats exactly what IMF has stopped state from doing.
     
  6. bafxet

    bafxet FULL MEMBER

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    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
     
  7. Foxtrot Delta

    Foxtrot Delta SENIOR MEMBER

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    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.
    [​IMG]
     
  8. Cash GK

    Cash GK FULL MEMBER

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    Again 144 mafia is full rol
     
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  9. ARMalik

    ARMalik FULL MEMBER

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    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.
     
  10. VCheng

    VCheng ELITE MEMBER

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    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.
     
  11. ARMalik

    ARMalik FULL MEMBER

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    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.
     
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  12. VCheng

    VCheng ELITE MEMBER

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    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.
     
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  13. Reddington

    Reddington FULL MEMBER

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

    VCheng ELITE MEMBER

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    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.
     
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  15. ARMalik

    ARMalik FULL MEMBER

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    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.
     
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