US dollar hits all-time high of Rs142 in interbank market

[punit]

Hmm interesting crude oil prices are low so why is dollar dropping. Seems like artificial drop so this means is state bank buying dollar?

Must be a good thing for pakistani economy..

 

[Fawadqasim1]

https://twitter.com/x/status/1068272345922588673

Yep as suspected state bank is buying dollar from market to increase foreign reserves.

Sir whatever they are doing they are killing middle
Class wiping out lower middle class. Every Pakistani has lost 1/3rd of his her savings
in last 10 11 months how can one defende this

 

[Champion_Usmani]

https://twitter.com/x/status/1068384989077753856

 

[BHarwana]

Sir whatever they are doing they are killing middle
Class wiping out lower middle class. Every Pakistani has lost 1/3rd of his her savings
in last 10 11 months how can one defende this

How are you losing your savings?
We produce basic commodities domestically and if energy price remains same there will be no inflation and if property prices remain same then there will be no effect on your savings. Yes your will be effected if you are importer so change business and become exporter.

 

[Champion_Usmani]

With the devaluation of rupee, the external debt on Pakistan swelled by a staggering Rs 760 billion.

Financial Experts thinks that in the coming weeks rupee could slump to as low as Rs150.

The devaluation is set to cause an increase in inflation and interest rate , effecting investment in the country.

https://twitter.com/x/status/1068382681245851648

https://twitter.com/x/status/1068386002899791872

 

[greenblooded]

i thought people were already expecting this

 

[BHarwana]

With the devaluation of rupee, the external debt on Pakistan swelled by a staggering Rs 760 billion.

Financial Experts thinks that in the coming weeks rupee could slump to as low as Rs150.

The devaluation is set to cause an increase in inflation and interest rate , effecting investment in the country.

https://twitter.com/x/status/1068382681245851648

But we have reserves to pay debt and non govt debt in Pakistan only accounts for 4% so dollar going high is only a worry for imports.

 

[Jf Thunder]

they said they wont be accepting IMF terms
oh wait..........
another leadership U Turn

 

[Rajesh Kumar]

seems good for my loans

Congrats Sir for your loan....

 

[Fawadqasim1]

How are you losing your savings?
We produce basic commodities domestically and if energy price remains same there will be no inflation and if property prices remain same then there will be no effect on your savings. Yes your will be effected if you are importer so change business and become exporter.

It's a myth sir prices of everything increases
accordingly from mobile phones to motorcycles
And from powdered milk to biscuits.

 

[Hyperion]

IK has done the unthinkable. In a single stroke he has wiped out lower middle class. I fear there will be no one left standing in the next 100 days.

Eik bewakoof dost say aik akkalmand dushman acha hota hai!

 

[BHarwana]

It's a myth sir prices of everything increases
accordingly from mobile phones to motorcycles
And from powdered milk to biscuits.

https://twitter.com/x/status/1066504919618772992

So buy domestically baked biscuits and drink taza milk.

 

[Rajesh Kumar]

But we have reserves to pay debt and non govt debt in Pakistan only accounts for 4% so dollar going high is only a worry for imports.

If you are export based country than it's good but if you are import based country than it's too bad, Sir.

You have to just need to go thru basis economy fundamental for country.

 

[valkyr_96]

even if exports increase if we are exporting them on cheap rates it is actually decreasing profitability of exporters which means less dollars are earned by him as compared to competitors and machinery parts which he import also become expensive some of our imports are inelastic which are necessary and will lead to inflation and it will decrease demand of our rupee and people will prefer to keep their savings in dollars instead of rupee which will further cause devaluation and decrease in foreign reserves of SBP

they are cheaper but the revenue is price x quantity as the price goes down the quantity goes up this is a fundamental concept the rest depends on product differentiation and consequently elasticity. how can competitor earn more if you sell cheaper you increase your market share or you force the competitor to reduce prices. This is fundamental to how monopolies are made in a non-differentiate market. Before you type maybe it is better to think from where will the government get the money to prop up the rupee. you want the government to to take a loan and transfer it to you so you can do namaz and tesbeeh in comfort? and then rant about how soud is haram and the system is rigged. Forget foreign reserves, we have high public borrowings and nothing to show for it. We invested in nothing but greed so we ate our future and the future of coming generations for our comfort today. This is what we got from the previous governments read it and weep so maybe you'll have some shame and think about changing the present.

 

[Fawadqasim1]

https://twitter.com/x/status/1066504919618772992

So buy domestically baked biscuits and drink taza milk.

No sir their prices also increase accordingly