Rupee continues to weaken Breaches 119

[The Accountant]

Look at my previous threads or just google.

Google is not a correct source, and if a payment reaches 2 billion in particular month then you cant quote it as a trend ...

 

[GumNaam]

by the way, india is struggling itself, so they really shouldn't be thumbing there floppy moobs just yet...

https://www.ndtv.com/business/foreign-exchange-forex-reserves-plunge-by-1-23-billion-1854176

https://www.indiainfoline.com/artic...billion-to-420-36-billion-118050500003_1.html

http://www.business-standard.com/ar...rnal-finances-at-risk-ubs-118032200234_1.html

https://www.ndtv.com/business/foreign-exchange-forex-reserves-plunge-by-3-21-billion-1847389

yeah yeah I know they the modi cheer leaders will march in with their pompoms claiming what's a few billion here and there plunging when their reserves are in the hundreds, they conviniently overlook the cold harsh fact that india is a nation of nearly 1.5 billion people entirely dependent on foreign oil and gas. given india's size, even without the plunging servers they are suffering, their reserves are woofully low. given india's size, there reserves need to be close at least a trillion to be comfortable but currently they are far from it and the gulf between the trillion dollar mark is ever increasing...

 

[Fireurimagination]

wish I had a rice mill in Pakistan right now, that's some serious money exporters are making...

True good for exporters, but overall Pakistan is not a export driven economy and imports a lot especially oil and with oil prices going up with iran crisis and all thus it means booming inflation, extra pressure on cash reserves due to loan repayment and all. Thus a weak Pakistani rupee is good for some but bad for many.

 

[GumNaam]

True good for exporters, but overall Pakistan is not a export driven economy and imports a lot especially oil and with oil prices going up with iran crisis and all thus it means booming inflation, extra pressure on cash reserves due to loan repayment and all. Thus a weak Pakistani rupee is good for some but bad for many.

believe it or not, this price hike doesn't really effect us at the government level, one of the best kept secrets is that WE HAVE A LOT OF OIL OF OUR OWN...that we quietly use to fill the shortfalls. Unfortunately though, the advantage does not trickle down to the common man thanks to crooked policies of corrupt politicians...

 

[Fireurimagination]

believe it or not, this price hike doesn't really effect us at the government level, one of the best kept secrets is that WE HAVE A LOT OF OIL OF OUR OWN...that we quietly use to fill the shortfalls. Unfortunately though, the advantage does not trickle down to the common man thanks to crooked policies of corrupt politicians...

Good for you if true but then it a gives a stick to somebody else to beat you with and it's not only oil but anything and everything that you import or will import, especially defense related stuff, the 100 billion rupee budget will be worth only 70 billion rupee budget (just an eg.) with the devaluation, plus loan repayment in dollar terms will be a nightmare, add to that things like education abroad, trips abroad and services you seek from abroad online everything will be costly now having a negative impact on overall economy.

 

[GumNaam]

Good for you if true but then it a gives a stick to somebody else to beat you with and it's not only oil but anything and everything that you import or will import, especially defense related stuff, the 100 billion rupee budget will be worth only 70 billion rupee budget (just an eg.) with the devaluation, plus loan repayment in dollar terms will be a nightmare, add to that things like education abroad, trips abroad and services you seek from abroad online everything will be costly now having a negative impact on overall economy.

a lot of our imports are done with China in our own currencies and how the heck is anyone gonna beat us with any stick if we have our own oil reserves. And it IS true...

https://www.globalcapital.com/article/b100v25p7rkjmc/tapping-pakistans-wealth-of-oil-and-gas

https://tribune.com.pk/story/1132448/pakistans-oil-gas-discoveries-touch-record/

our largely untapped oil reserves actually serve as a stick for US to beat someone with; in a way, countries like saudi Arabia and iran pay us billions of dollars to NOT start extracting and exporting our own oil. but as I said, that money never reaches to common man thanks to corrupt politicians.

 

[Chhatrapati]

a lot of our imports are done with China in our own currencies and how the heck is anyone gonna beat us with any stick if we have our own oil reserves. And it IS true...

Except Renminbi is pegged against the dollar. So, when Rupee goes up against dollar, it goes up against RMB.

our largely untapped oil reserves actually serve as a stick for US to beat someone with; in a way, countries like saudi Arabia and iran pay us billions of dollars to NOT start extracting and exporting our own oil. but as I said, that money never reaches to common man thanks to corrupt politicians.

If that was the case then Venezuela and Nigeria must be the richest countries in the world. Are they?

 

[Fireurimagination]

a lot of our imports are done with China in our own currencies and how the heck is anyone gonna beat us with any stick if we have our own oil reserves. And it IS true...

https://www.globalcapital.com/article/b100v25p7rkjmc/tapping-pakistans-wealth-of-oil-and-gas

https://tribune.com.pk/story/1132448/pakistans-oil-gas-discoveries-touch-record/

our largely untapped oil reserves actually serve as a stick for US to beat someone with; in a way, countries like saudi Arabia and iran pay us billions of dollars to NOT start extracting and exporting our own oil. but as I said, that money never reaches to common man thanks to corrupt politicians.

I don't think China can provide you with F-16s or Euro Fighters, thus this limits your choices to only one country and also makes you dependent on them taking away your freedom. You believe you get cheap oil from Saudi or UAE and that is the stick which these countries can use against you, do you really believe there are freebies on the planet. Every country has their oil reserves, in case of a war for how long that oil reserves is going to last? The untapped oil or other mineral reserves count for sh!t unless they are extracted which cost billions of 'dollars'. In India we keep on hearing we have world's 98% of thorium reserves and soon we will be richest country in the world yadla yadla but real world doesn't work that way. When it's dependability upon China, Saudi or US you can bet that you are in trouble. In real world there are only self interests, thus a weak currency for a export oriented economy and a strong one for an import oriented one is and will be the healthy norm and not the vice versa.

 

[GumNaam]

Except Renminbi is pegged against the dollar. So, when Rupee goes up against dollar, it goes up against RMB.


If that was the case then Venezuela and Nigeria must be the richest countries in the world. Are they?

don't be makin' idiotic comments. they are plagued with even more corruption than Pakistan and india COMBINED!

I don't think China can provide you with F-16s or Euro Fighters, thus this limits your choices to only one country and also makes you dependent on them taking away your freedom. You believe you get cheap oil from Saudi or UAE and that is the stick which these countries can use against you, do you really believe there are freebies on the planet. Every country has their oil reserves, in case of a war for how long that oil reserves is going to last? The untapped oil or other mineral reserves count for sh!t unless they are extracted which cost billions of 'dollars'. In India we keep on hearing we have world's 98% of thorium reserves and soon we will be richest country in the world yadla yadla but real world doesn't work that way. When it's dependability upon China, Saudi or US you can bet that you are in trouble. In real world there are only self interests, thus a weak currency for a export oriented economy and a strong one for an import oriented one is and will be the healthy norm and not the vice versa.

I think you've missed the train on Pakistan's policy on fighter planes. Our days of going "shopping" for fighter planes are LONG gone, we are in the business of making our own now, unlike you guys who are still shopping. and our right about the untapped oil reserves. Most people want us to extract and join the rank of oil and gas exporters, and IK's policy is just that. but the idiotic policies we've been plagues with has prevented that thus far. Hopefully this will change soon.

 

[Fireurimagination]

don't be makin' idiotic comments. they are plagued with even more corruption than Pakistan and india COMBINED!

I think you've missed the train on Pakistan's policy on fighter planes. Our days of going "shopping" for fighter planes are LONG gone, we are in the business of making our own now, unlike you guys who are still shopping. and our right about the untapped oil reserves. Most people want us to extract and join the rank of oil and gas exporters, and IK's policy is just that. but the idiotic policies we've been plagues with has prevented that thus far. Hopefully this will change soon.

Fighter planes were just an example the same is true for anything and everything, we both has seen in the past that dependence on one country be it USSR for India or USA for Pakistan is not healthy. Good luck for both of us for extracting and exploiting the natural resources, soon with advent of electric vehicles that oil will be $10 per barrel anyways. In the meantime it will be back-breaking inflation, risk of default and stagnant economy with no money for any development work.

 

[GumNaam]

Fighter planes were just an example the same is true for anything and everything, we both has seen in the past that dependence on one country be it USSR for India or USA for Pakistan is not healthy. Good luck for both of us for extracting and exploiting the natural resources, soon with advent of electric vehicles that oil will be $10 per barrel anyways. In the meantime it will be back-breaking inflation, risk of default and stagnant economy with no money for any development work.

let's see...electric cars have come a long way and will definitely help.

 

[Chhatrapati]

don't be makin' idiotic comments. they are plagued with even more corruption than Pakistan and india COMBINED!

The smartest comment was this lol

a lot of our imports are done with China in our own currencies and how the heck is anyone gonna beat us with any stick if we have our own oil reserves.

they are plagued with even more corruption than Pakistan and india COMBINED!

Ehh! You guys are less corrupt than Russia but, are you any rich?

 

[GumNaam]

The smartest comment was this lol


Ehh! You guys are less corrupt than Russia but, are you any rich?

as far as the people are concerned, We are richer, happier and more well off than indians...
https://en.dailypakistan.com.pk/opi...rage-pakistani-20-richer-than-average-indian/

 

[Chhatrapati]

as far as the people are concerned, We are richer, happier and more well off than indians...
https://en.dailypakistan.com.pk/opi...rage-pakistani-20-richer-than-average-indian/

haha as is your competitiveness and credibility. Richer my rear, when was the last time you completed and published the number of people living in your country.
A country which is among the rock bottom in competitiveness (@122). Richer and Happier lol
https://tribune.com.pk/story/1517125/pakistan-crawls-bottom-20-global-competitiveness-index/

 

[GumNaam]

haha as is your competitiveness and credibility. Richer my rear, when was the last time you completed and published the number of people living in your country.
A country which is among the rock bottom in competitiveness (@122). Richer and Happier lol
https://tribune.com.pk/story/1517125/pakistan-crawls-bottom-20-global-competitiveness-index/

sorry, I'm not interested in the richess of your rear...but I'm sure you'll find plenty of others in india interested in raping the richness of your rear!

http://www.pakalumni.com/profiles/b...-largest-source-of-foreign-doctors-in-america

https://www.nytimes.com/2015/08/11/opinion/bina-shah-pakistan-the-next-software-hub.html

https://www.alibaba.com/countrysearch/PK/tops-surgicals.html

and here's the final nail in your coffin, errr....in your "chitaa" from your own news source...
https://www.indiatimes.com/news/wor...est-list-indians-arent-even-on-it-232444.html

apni auqaat may raho, don't worry about us being competitive...