dollar get obliterated after IMF deal

[niaz]

hello sir
in my understanding the rupee is undervalued
if economy stables we should have a 160-180 $

The real value of any currency is what the market will 'Bear'. Rupee value has not been fixed such as for the UAE Dirham which is fixed at 3.6729 to I USD (open market rate very close this figure), hence if the market thinks that 237 Pak Rs are eqaul to one US Dollar then this the true Pak Rupee value. I hope it comes dowm to around 160 as this would reduce the debt repayments, but does not look likely in the near future.

 

[ali_raza]

The real value of any currency is what the market will 'Bear'. Rupee value has not been fixed such as for the UAE Dirham which is fixed at 3.6729 to I USD (open market rate very close this figure), hence if the market thinks that 237 Pak Rs are eqaul to one US Dollar then this the true Pak Rupee value. I hope it comes dowm to around 160 as this would reduce the debt repayments, but does not look likely in the near future.

u r right and this is what happens but as u know world isn’t a fair place
soo many currencies are undervalued some are overvalued
and they get away with it
case in point talib currency there seems to be a silent pat on the back for em
another example vanizvela despite being largest oil producer
economy is in gutter
or lets say uk
despite its debt to gdp is 1200%
they r solid as rock

 

[maithil]

With 7-8% Fiscal deficit, any improvement in PKR vs USD is temporary. Will keep sliding.

 

[HAIDER]

Short term bullish sentiment because of loan given nothing more.
No exports, no industry , no foreign remittance and investment means no solid foundations that's makes a economy and it's currency more powerful.
But more than enough to fool the illiterate N league scums and Patwari to get votes.

Imagine Karachi hospitals out of anesthesia ....because no import LC.

 

[dilpakistani]

Just another small window for leeches and holders to stock it... no external factor is contributing to it's devaluation. It would bounce back with vengeance pretty soon

 

[epebble]

Imagine Karachi hospitals out of anesthesia ....because no import LC.

Surgeries are going to be very painful. This was the case before 1846.

 

[WarKa DaNG]

Lol

You have no idea what’s going to happen in the next few months do you ?

No sir not at all but i anticipate that the begging will continue with full zeal and zest

 

[ziaulislam]

Some patwaris like you are also saying sell nukes to other countries for billions of dollars. Lolz

View attachment 937605

What's changed ?we have been printing dollars since 1983 under Nawaz sharif

Go to Lahore and most will either not want to vote or vote for nawaz sharif

 

[Hero786]

What's changed ?we have been printing dollars since 1983 under Nawaz sharif

Go to Lahore and most will either not want to vote or vote for nawaz sharif

Lol,
Dollars printed in Pakistan will be fake currency,
In International Market no one will get it.

Only poor non educated, simple people will get it, un-knowingly and will get scammed, no one will take that dollars, in the end poor people will be scammed and ruined.

 

[ziaulislam]

Lol,
Dollars printed in Pakistan will be fake currency,
In International Market no one will get it.

Only poor non educated, simple people will get it, un-knowingly and will get scammed, no one will take that dollars, in the end poor people will be scammed and ruined.

As long as people believe it's happening it will work

 

[Hero786]

As long as people believe it's happening it will work

where will it work?
if Pakistan want to import medicines worth of 1 million dollars, who will take this fake currency?
Fake currency can be recognized, if checked carefully.

 

[fatman17]

View attachment 936917

dollar destroyed
thank you ishaq dar sahab

dollar drops massively to 275..record drop

Crying when it was 180 and jumping for joy at 275. Wah!

 

[ziaulislam]

where will it work?
if Pakistan want to import medicines worth of 1 million dollars, who will take this fake currency?
Fake currency can be recognized, if checked carefully.

Well it is working people saw massive devaluation in 1998 and yet voted back Nawaz sharif in 2008, people saw massive devaluation in 2018 and yet wanted voted back Nawaz sharif in 2022

A few motorways and all will be fine. I am looking for another fine victory in central punjab..rest we can manage

If it's ain't broken don't fix it ...
Current model of massive spending followed by collapse has worked since 1983 so no reason to change the strategy

 

[ghazi52]

,.,..,

Dollar back to pre-Eid level after sixth gain in a row​

Shahid Iqbal
July 22, 2023

KARACHI: The rupee depreciated for the sixth day on Friday, falling by 0.58 per cent to Rs. 286.81 against the US dollar on the interbank market, central bank data showed.

According to the State Bank data, the rupee depreciated by Rs10.35 in six sessions, shedding all the gains it had made after a short-term, $3 billion agreement with the IMF.

On June 27, the rupee closed at 285.99 in the interbank market on the last trading day before Eidul Azha, before rising by 3.83pc to 275.44 in the next session on July 4.

The rupee has lost value even though State Bank’s reserves have jumped to $8.7bn, close to the reserves in October 2022.

Currency experts said that the latest rupee depreciation over the past few days was a sign of a lack of confidence in the local currency and the economy on the whole.

Analysts said stringent IMF conditions had created doubts that the country could abide by the tough requirements. At the same time, uncertainty over the political horizon is still there and may continue until a new government takes the helm, they said. However, bankers believe that chances for growth in exports are slim while the remittances would remain attractive for the grey market.

Heavy taxes with exorbitant electricity prices have increased production costs, while the IMF is not ready to accept subsidies for any sector.

Bankers said the situation would also hurt exports this year. In the previous fiscal year, the country lost over $4bn due to a decline in exports and another $4.2bn due to a fall in remittances.

“The country needs a stable government with a defined economic policy to boost confidence for stability in the foreign exchange regime,” a banker said.

 

[Hero786]

Dollar at 293 PKR

Abhi aur ooper jaye,
IMF asks not to stop imports. Duffers had stopped all imports before and mad it history of Pakistan.

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