Rupee slumps to all-time low of 134 against US dollar

[SunilM]

We can thank Indian lover Nawaz Sharif for this accomplishment.

Things will recover. Only a matter of time.

You mean 150 by year end.

 

[maximuswarrior]

You mean 150 by year end.

We will see about that. Besides have you seen the state of your own economy and currency lately? LOL The Indians need to be worried about the currency dive in their own country.

 

[Alpha BeeTee]

Will it dive even more?
Any experts please? How further will rupee plunge?

 

[maximuswarrior]

Will it dive even more?
Any experts please? How further will rupee plunge?

Tera maame expert ko abhi bulaate he LOL Expert ka bacha.

 

[Śakra]

Will it dive even more?
Any experts please? How further will rupee plunge?

Yes. Depending on the conditions set by the IMF it could either find support at 130 or it could go down past 150.

Most of fx websites are reflecting 127 rs

https://tribune.com.pk/story/1821441/1-rupee-free-fall-crosses-rs134-interbank-market/

Forex sites aren’t live updating. It’s 136 now.

 

[SunilM]

Yes. Depending on the conditions set by the IMF it could either find support at 130 or it could go down past 150.

My bet would be around 145-150 in the next 6 months.

 

[Śakra]

My bet would be around 145-150 in the next 6 months.

Idk it could go down to 180 if the conditions imposed are too strenuous or if we learn that CPEC terms are very unfavourable. Its wild speculation atm.


Lets hope @BHarwana doesnt suggest they use forex to defend the pkr or it will run dry in a few weeks.

 

[SunilM]

Idk it could go down to 180 if the conditions imposed are too strenuous or if we learn that CPEC terms are very unfavourable. Its wild speculation atm.


Lets hope @BHarwana doesnt suggest they use forex to defend the pkr or it will run dry in a few weeks.

I think he will use tomatoes instead. Works out well for him.

 

[Death Professor]

it will probably dip a little more before rising up. it's probably because of uncertainty on the IMF loan, it will start to rise again after we into IMF plan. No need to worry about..

Well I commented about stocks situation yesterday, though I was expecting a slower rise in rupee devaluation. At-most the the rupee will depreciate to 140 in coming months, it won't go above that. Aik karwi goli yeh thi, abb kisi trah ye mahenaa aram se PTI guzaar le. After this it will be smooth sailing, if by elections go well.

 

[SunilM]

Well I commented about stocks situation yesterday, though I was expecting a slower rise in rupee devaluation. At-most the the rupee will depreciate to 140 in coming months, it won't go above that. Aik karwi goli yeh thi, abb kisi trah ye mahenaa aram se PTI guzaar le. After this it will be smooth sailing, if by elections go well.

They should do it slowly. But then PTI is to blame. Once you got 2 billion dollars from China, you should have used them judiciously. Instead the PTI govt used up the amount to again defend the Rupee. If only you would have let it depreciate slowly, one would not have seen a drop of Rs 12 in a day. This will have catastrophic consequence on the economy, such a sudden devaluation. Also the demand for dollars will increase exponentially which will further put a strain on the meager forex reserves.

Also the real forex reserves with the SBP is merely 2 billion dollars as they double count the amount of 6 billion dollars which are with the commercial banks with the amount lying with the SBP. They need to be more honest with the people about the actual precarious situation.

 

[aman_rai]

Where is the economy expert of PDF

 

[maithil]

Every developing economy is taking a hit. INR also running towards 80. Not much can anyone do. Trump is killing Developing countries.

 

[SunilM]

Imagine the next rise in Petrol prices. The minimum rise now will be Rs 10 and once the IMF programme is in full swing, god help the aam awaam.

 

[pak-marine]

They should do it slowly. But then PTI is to blame. Once you got 2 billion dollars from China, you should have used them judiciously. Instead the PTI govt used up the amount to again defend the Rupee. If only you would have let it depreciate slowly, one would not have seen a drop of Rs 12 in a day. This will have catastrophic consequence on the economy, such a sudden devaluation. Also the demand for dollars will increase exponentially which will further put a strain on the meager forex reserves.

the real forex reserves with the SBP is merely 2 billion dollars as they double count the amount of 6 billion dollars which are with the commercial banks .

source ?

 

[Death Professor]

Imagine the next rise in Petrol prices. The minimum rise now will be Rs 10 and once the IMF programme is in full swing, god help the aam awaam.

nahh, will be all fine currently petrol is around 92 PKR, your petrol price is 77-80 INR. It's just a phase, I think we all will get through it. Don't see angry farmers protesting in thousands like it happened in India. A small protest by opposition is going to happen after that it will all be gucci. PTI just has to harden and get through this month's by election and when next year comes it will be well.