Dollar hits record Rs211 as IMF deal delay weighs heavy on rupee

[SD 10]

The government is expecting skyrocketing export figures in the coming months which will stabilize the currency. The plan is to gain momentum and turn Pakistan into an export hub with huge manufacturing foundation.

with pmln government..... it is always the imports which will gain momentum!

 

[Olympus81]

Unofficially the rates are at 220-225. So there is still room for a downward spiral.

What a disaster unfolding right in front of our eyes.

 

[Wood]

Pakistani currency will likely recover after IMF funds are made available

 

[Dalit]

Pakistani currency will likely recover after IMF funds are made available

Of course. We believe you.

 

[Wikki019]

Pakistani currency will likely recover after IMF funds are made available

Will go back to 172?

 

[Wood]

Will go back to 172?

That may not be possible because of the feds increasing interest rate and high global energy prices. But I think that it may come below 200 range.

 

[PakFactor]

@Norwegian @Wood

What I tell you guys, remember I said 240-250 by August, Inshallah.

 

[Wood]

@Norwegian @Wood

What I tell you guys, remember I said 240-250 by August, Inshallah.

.. my gut feeling is that PKR will be kept below 200 after IMF funds are made available. Letting it depreciate too much is also undesirable. It will be difficult to maintain rates because of interest rate hikes in developing countries though.

 

[VCheng]

.. my gut feeling is that PKR will be kept below 200 after IMF funds are made available. Letting it depreciate too much is also undesirable. It will be difficult to maintain rates because of interest rate hikes in developing countries though.

Maintaining such pre-determined pegs in the absence of sufficient resources to do so is always a losing game. Let the PKR find its value according to market principles, and let is rise or fall in accordance with those principles. The economy will adapt and indeed be helped by such policies in the long run.

 

[Wood]

Maintaining such pre-determined pegs in the absence of sufficient resources to do so is always a losing game. Let the PKR find its value according to market principles, and let is rise or fall in accordance with those principles. The economy will adapt and indeed be helped by such policies in the long run.

Yea, I agree with your opinion. But domestic political implications will not allow the administration to let PKR depreciate too much. 200 will likely be a phycological barrier that voters would not like to tolerate.

 

[Invictus01]

Well anyways retired moderator of PDF is happy and that's what matters

shhh they might just charge you with something completely random for speaking the truth and issue you a warning