Martian2
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Pakistan's export industries are becoming far more competitive on the world market.
A 40% depreciation in the Pakistani rupee and a concurrent 21.9% appreciation in the Chinese yuan has made Pakistani exports more affordable to buyers in foreign countries.
Monsters and Critics - Page Not Found 404
"Karachi - The Pakistani rupee on Wednesday again fell to a record low against the US dollar to close at 80.30...."
During the last five years (since 2004), the Pakistani rupee has lost approximately 40% ([80 rupees - 57 rupees] / [57 rupees]) against the value of the U.S. dollar. See Pakistan's 2004 rupee value at Pakistani rupee - Wikipedia, the free encyclopedia
This means that Pakistani export-products are 40% cheaper for American and other foreign customers to buy.
During the 1997 Asian financial crisis, the Chinese government chose to maintain the value of its pegged currency at 8.27 yuan to the US dollar. While neighboring Asian countries devalued their currencies, the Chinese chose to pay the price to contribute to global economic stability and did not devalue their currency. This meant that Chinese products were more expensive on the world market.
Renminbi - Wikipedia, the free encyclopedia
"...Chinese government to maintain a peg of 8.27 yuan per USD from 1997 to 2005."
"On September 30, 2008, the renminbi traded at 6.7899 yuan per U.S. dollar, which is a 21.9% increase and the highest rate since the removal of the peg."
Once again, during the last four years, the Chinese government has chosen to contribute to world stability. Since 2005, the Chinese yuan has appreciated by 21.9% in value compared to the US dollar.
Compared to four years ago, current Pakistani export-products are roughly 61.9% cheaper than similar Chinese exports on the world market.
A 40% depreciation in the Pakistani rupee and a concurrent 21.9% appreciation in the Chinese yuan has made Pakistani exports more affordable to buyers in foreign countries.
Monsters and Critics - Page Not Found 404
"Karachi - The Pakistani rupee on Wednesday again fell to a record low against the US dollar to close at 80.30...."
During the last five years (since 2004), the Pakistani rupee has lost approximately 40% ([80 rupees - 57 rupees] / [57 rupees]) against the value of the U.S. dollar. See Pakistan's 2004 rupee value at Pakistani rupee - Wikipedia, the free encyclopedia
This means that Pakistani export-products are 40% cheaper for American and other foreign customers to buy.
During the 1997 Asian financial crisis, the Chinese government chose to maintain the value of its pegged currency at 8.27 yuan to the US dollar. While neighboring Asian countries devalued their currencies, the Chinese chose to pay the price to contribute to global economic stability and did not devalue their currency. This meant that Chinese products were more expensive on the world market.
Renminbi - Wikipedia, the free encyclopedia
"...Chinese government to maintain a peg of 8.27 yuan per USD from 1997 to 2005."
"On September 30, 2008, the renminbi traded at 6.7899 yuan per U.S. dollar, which is a 21.9% increase and the highest rate since the removal of the peg."
Once again, during the last four years, the Chinese government has chosen to contribute to world stability. Since 2005, the Chinese yuan has appreciated by 21.9% in value compared to the US dollar.
Compared to four years ago, current Pakistani export-products are roughly 61.9% cheaper than similar Chinese exports on the world market.
