Dollar hit to 166.30 inter bank market against PKR. 2.2 rupee devalaution in a just 3 days.

[Norwegian]

PKR is defaulted is the bitter reality since PTI came.

No it was already defaulted by your favorite stable exchange rate Guru Ishaq Dollar, even before PTI came, Khotay Patwari

We had very bad guys to negotiate with IMF ,which lead us to mess of market base exchange ,which has not give any kind of benefit to Pakistan.

Pakistan avoided default. What mess? You know how much dollar rate would be if Pakistan declared bankruptcy?

It was better that we announced default rather going market base currency. It would devalued one time but would have recovered but now we are in mess major crisis.

Problem with default / bankruptcy is that you don't know how much dollar will go up. At least now it's market based.

Shaukat Tarin should trailed under attempt to murder case of Pakistan Economy. In which world Economy growth can happens, can do CAD or even spend dollar on TERF when reserve are negative? Who is to be blamed? Imran Khan ?

Reserves are not gone overnight. Similarly they are not built over night. Both are long painful processes

 

[Norwegian]

The depreciation of the currency from Rs. 152.28/USD to Rs. 165.2/USD is against the principle of economics. At a time when the country’s foreign exchange reserves are rising, how can currency depreciate? Rising foreign exchange reserves mean inflows are greater than outflows. There is just no economic justification for depreciation

Khotay it went to 164 then back to 154 and now going up again. Nobody complained when market mechanism was letting it go down to 154 from 164. But as soon same market mechanism drive up the price, you call it makes no sense? Blames PTI and the market?

 

[Black Tornado]

Khotay it went to 164 then back to 154 and now going up again. Nobody complained when market mechanism was letting it go down to 154 from 164. But as soon same market mechanism drive up the price, you call it makes no sense? Blames PTI and the market?

PTI is doing pretty well on economics tbh

 

[Norwegian]

at least we would have reserve that had a purpose

Purpose of reserves is not to buy back currency when net reserves are in negative

 

[Norwegian]

Bro his stubborn, he won't be swayed.. try enticing him with Kotha biryani instead... I'd like to see how many plates breaks his demeanor..

 

[BoggedDown]

>> It better to get defaulted like Argentina

Those who recommend a country to default or go for bankruptcy, I suggest you try yourself first declare personal defaulter or bankruptcy specially those who lives in west, see what is the consequence of it, how long it takes to recover from it and regain your reputation and credit worthiness.

 

[Desprado]

>> It better to get defaulted like Argentina

Those who recommend a country to default or go for bankruptcy, I suggest you try yourself first declare personal defaulter or bankruptcy specially those who lives in west, see what is the consequence of it, how long it takes to recover from it and regain your reputation and credit worthiness.

Brazil and Spain did it in 2 years time. China did as well as UK also was defaulted recovered in 1 year.


In 1992 , India defaulted as well.

 

[BoggedDown]

Why don't you move to one of these countries like your amer-ul-mumenin and give us break from your idiocity

 

[Chhatrapati]

In 1992 , India defaulted as well

No, but we came close to a default, but the government then mortgaged it's gold reserves to IMF for emergency funds.

 

[Desprado]

No, but we came close to a default, but the government then mortgaged it's gold reserves to IMF for emergency funds.

But PTI could not because you managed the IMF program at the right time and Asad Umar did not.

 

[dilpakistani]

 

[Desprado]

Dr Ashfaq Hassan " There is no where in the world i have seen or studied that when reserve are rising and economy is recovering than there is 14 rupee devaluation within 3 months time frame without any Justification or explanation. It is done on plan to make PTI look bad and make inflation more worse so that they have chance to increase interest rate again, which will be a full stop for PTI growth."


Said the same thing 3 months back. Look at my post.

 

[Norwegian]

But PTI could not because you managed the IMF program at the right time and Asad Umar did not.

Lol Khotay Pakistan has been to IMF program 22 times. India went there once and fixed its economy. Was Pakistan always late 21 times before PTI, Patwari?

 

[Desprado]

Fact "curse on these reserve and it is better get defaulted if the currency daily devalues on 1 PKR every single day " Dr Ashfaq Hassan

 

[Norwegian]

Dr Ashfaq Hassan " There is no where in the world i have seen or studied that when reserve are rising and economy is recovering than there is 14 rupee devaluation within 3 months time frame without any Justification or explanation. It is done on plan to make PTI look bad and make inflation more worse so that they have chance to increase interest rate again, which will be a full stop for PTI growth."


Said the same thing 3 months back. Look at my post.

There is no conspiracy here. CAD goes up = Dollar goes up. Foreign exchange reserves have little impact on day to day PKR / USD exchange rate.