• Tuesday, May 21, 2019

US dollar jumps to Rs146.25 in open market

Discussion in 'Pakistan Economy' started by Reddington, May 15, 2019 at 3:59 PM.

  1. VCheng

    VCheng ELITE MEMBER

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    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.
     
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  2. Yaseen1

    Yaseen1 SENIOR MEMBER

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    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
     
  3. H!TchHiker

    H!TchHiker SENIOR MEMBER

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    This is good news..Har cheez apni asli qeemat pa mlni chaeya
     
  4. Fawadqasim1

    Fawadqasim1 SENIOR MEMBER

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    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.
     
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  5. Neptune_

    Neptune_ FULL MEMBER

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    Good news for expat Pakistanis. Its a great time for them to buy more properties in Pak.
     
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  6. Fawadqasim1

    Fawadqasim1 SENIOR MEMBER

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    Here you go
     
  7. VCheng

    VCheng ELITE MEMBER

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    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.
     
  8. Fawadqasim1

    Fawadqasim1 SENIOR MEMBER

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

    VCheng ELITE MEMBER

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    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.
     
  10. Fawadqasim1

    Fawadqasim1 SENIOR MEMBER

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    We have always faced the consequences
    we grew up facing the consequences we are immune now.don't you fikar
     
  11. Nothing

    Nothing FULL MEMBER

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

    VCheng ELITE MEMBER

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

    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.
     
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  13. litman

    litman SENIOR MEMBER

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    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.
     
  14. VCheng

    VCheng ELITE MEMBER

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

    litman SENIOR MEMBER

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    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.