PKR goes to 168.60 highest rate ever against dollar in history.

[Jazzbot]

The OP @Desprado has opened 5 - 6 threads since morning on the same topic:

https://defence.pk/pdf/search/39609984/

He literally is a desprado

 

[Zibago]

The OP @Desprado has opened 5 - 6 threads since morning on the same topic:

https://defence.pk/pdf/search/39609984/

He literally is a desprado

He is also doing that on siyasat.pk

 

[Wood]

PKR seems to have devalued mostly in the period between January 2018 to July 2019. Did the state employees see a big jump in pay from exchequer?

India had a similar devaluation in the past. At that time, the state's pay commission hiked pays considerably. Wondering if Pakistan also went through the same experience.

 

[RoadRunner401]

Well, there are a host of factors behind the depreciation. The rupee saw a fall due to widening trade deficit, dwindling foreign exchange reserves, and free-float exchange rate mechanism to determine the market value of the currency.

1. The government has decided for the time being to let the markets decide the value of the rupee. Previously, the rupee was kept artificially high by the PMLN govt by pumping amounts from 7 to 22 bn dollars into the markets.
2. The central bank is unable to support the rupee as its reserves are on the decline due to debt payments. The previous govt acquired massive debt in order to both keep the rupee artificially high as well as spending on non-feasible projects
3. Since Pakistan imports way more than it exports and its debt servicing has far exceeded the foreign loans and foreign investment it has attracted in recent months, it has been running short of dollars to pay its foreign bills. The rupee’s value vis-à-vis other currencies, consequently, has gone down massively.
4. The only sustainable way of keeping the exchange rate stable is to grow export earnings at a rate that outpaces the increase in demand for dollars in the economy.

The biggest Economic disaster taken place for Pakistan was during PML_N times our exports went down by billions and our National debt also grew by billions during PML_N they are finally starting to come back to the same levels which were during PPP times. So lots of hard work is ahead.

 

[waqasmwi]

Congratulation to Imran Khan another achievement.

https://twitter.com/x/status/1437645127149838338

Because of Previous PML- N govt. Plus PPP govt. Don't include Musharraf Marshall Law and the again precious govts. Don't include previous marshall laws and again this devaluation because of previous democratic govts. Finally because of Mr. Jinnah.
No Mr. Jinnah, No Pakistan
No Pakistan, No Pakistani Rupee
No Pakistani Rupee, No devaluation

 

[Chhatrapati]

Imagine if that 20 billion was spent to rebuild our railways, national grid and to build infrastructure needed for Industry or even for national defence.

Forex as interesting as it is to count the rise and fall is not sovereign wealth that can be used for infrastructure. It's simply acquired through debts, capital flows, asset, commodities held etc... and is useless for the most part if you have enough to cover imports for at least 10 months or a year. On the plus side, the central bank can make money through the management of these assets, especially when the value of currency holdings appreciates. But the return is a very small sum, irrelevant considering the value of assets held.

 

[SQ8]

Now start cursing every Pakistani. Last option.

Technically every Pakistani is responsible for their own dilemma. When the scum can broadly proclaim support for a political party by saying “we love corruption!” It tells you the moral gutter such Pakistanis like to live in.

 

[Dr-who]

One the best thing to happen is devaluation.
This will force for import substitution
The impact is f devaluation is painful in short term but beneficial medium to long term.

 

[Ali_Baba]

USD / Afghanis is 1:80
USD / PKR is 1:168.

usdafn - Google Search

Go figure !!!!!

 

[Rahil khan]

Technically every Pakistani is responsible for their own dilemma. When the scum can broadly proclaim support for a political party by saying “we love corruption!” It tells you the moral gutter such Pakistanis like to live in.

Dilemma for overseas Pakistanis...Teaching morality while enjoying fruits of developed and matured democracies.

 

[Crimson Blue]

Well I do not want PPP or PML(N) to return.

But the people incharge namely, SBP governor, minister of trade & finance minister should hold a press conference to lay out the reasons of fall of PKR and their outlook/plan.

 

[POPEYE-Sailor]

@Norwegian

MASHLLAH Great Achievement and milestone by Potttiiiii

 

[BRAVO_]

for last couple of years pakistani rupee is free floating...... for how many centuries it will take to determine its real value??? in developed economies central bank intervene if currencies show abnormal trends for example The U.S. monetary authorities occasionally intervene in the foreign exchange (FX) market to counter disorderly market conditions. The Treasury, in consultation with the Federal Reserve System, has responsibility for setting U.S. exchange rate policy, while the Federal Reserve Bank New York is responsible for executing FX intervention.
and same thing is happening in several other countries ....... but our central bank is sleeping wo bhe satoo pee kay

 

[Rahil khan]

for last couple of years pakistani rupee is free floating...... for how many centuries it will take to determine its real value??? in developed economies central bank intervene if currencies show abnormal trends for example The U.S. monetary authorities occasionally intervene in the foreign exchange (FX) market to counter disorderly market conditions. The Treasury, in consultation with the Federal Reserve System, has responsibility for setting U.S. exchange rate policy, while the Federal Reserve Bank New York is responsible for executing FX intervention.
and same thing is happening in several other countries ....... but our central bank is sleeping wo bhe satoo pee kay

Here we discovered another version of Dr. Adam Smith named the legend who taught us comprehensively during his election campaign that Pakistani currency should have self regulatory mechanism. But we never knew that this free market place would be created under the strict rules and conditions of IMF, for which IMF will send his own man to serve as Governor SBP. Just check the history of Raza Baqir, and check what havoc he played with the Egyptian people.

Dollar will cross 180 this very year. And if IMF or Asian Development Bank will refuse/delay to pay further, than it will cross 200 because we have to return 30 Billion USD worth of loans in this very calendar year. .

 

[BRAVO_]

Here we discovered another version of Dr. Adam Smith named the legend who taught us comprehensively during his election campaign that Pakistani currency should have self regulatory mechanism. But we never knew that this free market place would be created under the strict rules and conditions of IMF, for which IMF will send his own man to serve as Governor SBP. Just check the history of Raza Baqir, and check what havoc he played with the Egyptian people.

Dollar will cross 180 this very year. And if IMF or Asian Development Bank will refuse/delay to pay further, than it will cross 200 because we have to return 30 Billion USD worth of loans in this very calendar year. .

yes... but govt can control it if they only want ... simply they were not aware of their imports which hit them straight at face in a single month it reach all time high ... the incompetence of economic team of IK is at full swing