Rupee hits one-year low against dollar

[Patriot forever]

Yes that i am trying to some sense that saving reserve will cause massive problem and using reserve will cause massive as PKR is going down without cause and non purposely than people will stock dollar to be saved from Inflation and dollarization will start massively ,which alone is enough to bring PKR rate down and create a massive shortage. That what's happens when devaluation has no effect on exports, import or even CAD like Zimbabwe did.

Bro what happened in Zimbabwe was Ishaq Dar+. They never pulled back and adapted until it was too late and at the end burned out of dollars and bankrupted.

Same story as Lebanon. Pakistan and Lebanon were almost in a similar situation in 2018 with artificially overvalued currency and huge deficit. You ought to read more.

 

[Desprado]

Bro what happened in Zimbabwe was Ishaq Dar+. They never pulled back and adapted until it was too late and at the end burned out of dollars and bankrupted.

Same story as Lebanon. Pakistan and Lebanon were almost in a similar situation in 2018 with artificially overvalued currency and huge deficit. You ought to read more.

No they did Imran Khan style lollipop and Government asked to have them for at least 7.5 years that we will increase export and reduce import. They devalued 50% of the currency to support exports ,however, in just 2 years the import increase 300% and export decreased 600% if PTI waits more like this policy to let market decide Pakistan than it have fruits like Zimbabwe is bearing and reserve will be winished in just days to stop the panic buying. It is not a free will that what ever market can determine like PTI applied since these 4 months. It has just booted over 3 years of good economic polices.

 

[Patriot forever]

No they did Imran Khan style lollipop and Government asked to have them for at least 7.5 years that we will increase export and reduce import. They devalued 50% of the currency to support exports ,however, in just 2 years the import increase 300% and export decreased 600% if PTI waits more like this policy to let market decide Pakistan than it have fruits like Zimbabwe is bearing and reserve will be winished in just days to stop the panic buying. It is not a free will that what ever market can determine like PTI applied since these 4 months. It has just booted over 3 years of good economic polices.

I think I hit your 'G' spot.

At this point you are just spewing out non sense. It's time to go to bed.

When did import increased 300% and export decreased 600%

 

[Desprado]

I think I hit your 'G' spot.

At this point you are just spewing out non sense. It's time to go to bed.

When did import increased 300% and export decreased 600%

Because country competitiveness was gone. Export got uncommunicative because they had to increase electricity prices, expensive taxes, expensive gas and raw materials, which kill the industry and all gone and dusted. Never ever devalue currency on market will because or leave currency on the mercy private industry because it does not give any benefit to Pakistan. Therefore, you borrow more to cover CAD gaps , export becomes non competitive, and import rises than people say that do not use reserve in PKR, which i also do not still government makes condition uncertain than PKR more sharply falls, which allows mainuplation than your reserve gets more waste. Since 4 months exchange rate is not flexible and it not recovered. Market requires stability to invest and bring back confidence in the currency.

 

[Norwegian]

Because country competitiveness was gone. Export got uncommunicative because they had to increase electricity prices, expensive taxes, expensive gas and raw materials, which kill the industry and all gone and dusted. Never ever devalue currency on market will because or leave currency on the mercy private industry because it does not give any benefit to Pakistan. Therefore, you borrow more to cover CAD gaps , export becomes non competitive, and import rises than people say that do not use reserve in PKR, which i also do not still government makes condition uncertain than PKR more sharply falls, which allows mainuplation than your reserve gets more waste. Since 4 months exchange rate is not flexible and it not recovered. Market requires stability to invest and bring back confidence in the currency.

It only happens when you are reliant on fuel imports for exports. Stop relying on imported oil / gas . Use water to generate electricity.

 

[ziaulislam]

At this pace, 200 PKR for 1 USD isn't far away. No wonder people would stock US Dollars. I myself would avoid PKR in the future. Wouldn't let these corrupt politicians get richer at our (my expense).

Its your fault that you are stocking rupee as compared to dollar

Everyone including idiots knows that every develping country rupee slides...you either need to invest it and get great returns in pkistan rupees or buy gold(or dollar gold being better then dollar)

Hence why interest rate in pakistan is 10% and usa 1%

 

[HttpError]

Its your fault that you are stocking rupee as compared to dollar

Everyone including idiots knows that every develping country rupee slides...you either need to invest it and get great returns in pkistan rupees or buy gold(or dollar gold being better then dollar)

Hence why interest rate in pakistan is 10% and usa 1%

I never stock PKR, neither I do in Gold. As Gold has went minus compared to last ten years. Instead, I invest in Crypto and that was the best decision ever.

 

[Vanamali]

just look at EURO how cute its look like man 100 and 50 are so nice

Agreed even I fell in Love with Euro .

I would like to see 1 USD = 200 PKR by end of the year.

Good for Exports, FDI and Remittances.

Export don't increase automatically unless you have producing industries... Do you think Pak will stop importing petrol and other essential items because dollar is costly... No. Ultimately common man will take the brunt.. Pak need good leader to come out of this mess.

 

[Zibago]

@Patriot forever @Zibago @ziaulislam @Del @Dual Wielder

Remember reserve sole purpose is to save from speculation attack and save from crisis but to not become a major cause of crisis. That is why now since September start PTI is catch 22 phase and it will only get worse for them because the Policy they are applying will not fail but it will also takes back to 2019 where tried to avoid crisis. So people are already tried of facing the highest inflation in Asia, which is Pakistan since 2 years.

Highest inflation in Asia? You really love to lie dont you

I think I hit your 'G' spot.

At this point you are just spewing out non sense. It's time to go to bed.

When did import increased 300% and export decreased 600%

We literally have the highest exports ever and he keeps repeating the lie that ecports have decreased

Because country competitiveness was gone. Export got uncommunicative because they had to increase electricity prices, expensive taxes, expensive gas and raw materials, which kill the industry and all gone and dusted. Never ever devalue currency on market will because or leave currency on the mercy private industry because it does not give any benefit to Pakistan. Therefore, you borrow more to cover CAD gaps , export becomes non competitive, and import rises than people say that do not use reserve in PKR, which i also do not still government makes condition uncertain than PKR more sharply falls, which allows mainuplation than your reserve gets more waste. Since 4 months exchange rate is not flexible and it not recovered. Market requires stability to invest and bring back confidence in the currency.

Name one developing country that is successful after inflating its own currency?

Lebanon and Turkey tried that model and it destroyed their economy

 

[Zibago]

I think I hit your 'G' spot.

At this point you are just spewing out non sense. It's time to go to bed.

When did import increased 300% and export decreased 600%

He just lies a lot

Pakistan ports’ cargo handling posts double-digit growth in FY21

Smart lockdowns help boost country’s external trade.

www.dawn.com

 

[Arsalan345]

So what's the end result? are they going to handle it or not? please explain in layman language. I don't understand Finance and banking.

 

[jedijedi]

To oversimplify the equation and to stop hating on one single party, I compare Pakistan to a house hold with.

Earnings (Exports) -> 20-25 Rupees
Brother sending from abroad (Remittances) - 20-25 Rupees
Total = 40-50 Rupees

Spending (Imports) -> 55-60 Rupees

Credit Card Debt: 115 Rupees
Credit bill divided into installments + interest = 10-20 Rupees

Total Spending -> 65-80 Rupees vs earnings of 40-50 Rupees

We (I put myself first) the average citizen are spoilt children of this household who need fancy toys like imported cars, imported mobiles, fancy clothes, imported foods and all. Our parents (politicians) keep feeding our cravings for all the junk food and lust for expensive goodies and keep blaming each other so that children don't unite and take control from their hands. Children don't work to make something useful for the home and worthwhile enough to sell and earn more for the home.
Hating on Imran, Nawaz, Zardari is too easy when we

1- don't stop our own addiction to imports
2- don't work harder towards manufacturing and exporting
3- always vote for charlatans who either look pretty, are smooth talkers or bullies, or in some cases hold eternal loyalty pledges of our parents.

It is entirely boring to read everyone blaming the voters of the other party while all of us just ignore our own contribution to this problem as citizen. If my brother is a successful importer, of course I'll hate on all of you blaming CAD as mother of all evils. I will hate the party that makes USD so expensive that my brother can't find buyers for his imports! I will find every excuse like "crucial industrial machinery, raw materials and medicine and all" to blackmail everyone. Anyhow, peace you all!