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

[Nilgiri]

Economic expert, Samiullah Tariq, speaking to ARY News, said the reserves of the State Bank of Pakistan had declined below critical level. He said the currency was facing a huge pressure at the moment.

He was of the view that surge in dollar will impact on prices of all basic commodities, thus ultimately burdening masses on financial front.

https://arynews.tv/en/dollar-rises-to-historic-high-of-rs-142-at-interbank-market/

https://twitter.com/x/status/1068366988572065797

Its very bad and very sad @BHarwana

 

[darksider]

if we do not depreciate how are we to pay back the previous government loans? We don't have the foreign reserves to match

You can give lollipop to educated people but how you will satisfy uneducated poors.
Price of baby powder milk go up from 650 to 750 in hundred days of pti gov.
I saw poor people wondering why this happened at the pharmacy.
They are killing the back of poors by making them more poor.
They want sacrifice from them but giving them no hope or relief.

 

[Nilgiri]

That scenario works if domestic manufacturing and exports actually increase. It's a two-way beating for the common people if exports aren't increasing and at the same time currency value also depreciating.

And to increase the exports a lot of factors are involved, not just the currency valuation.

Yes the different price elasticities (Especially of labour + capital intensity) play a huge rule in how the CAD reacts to devaluation. Essentially its based on the composition of the export basket vs import basket.

 

[monitor]

I hope it going to touch 200 rupee figure soon. Congratulations .

 

[BHarwana]

It would have been an economic problem if reserves were falling or trade deficit was increasing but both of those factors are positive so this is good news for economy and bad news for out flow of money.

 

[Nilgiri]

It would have been an economic problem if reserves were falling or trade deficit was increasing but both of those factors are positive so this is good news for economy and bad news for out flow of money.

You realise the effects of this are not instantaneous right? @VCheng

 

[Champion_Usmani]

It would have been an economic problem if reserves were falling or trade deficit was increasing but both of those factors are positive so this is good news for economy and bad news for out flow of money.

Economic expert, Samiullah Tariq, speaking to ARY News, said the reserves of the State Bank of Pakistan had declined below critical level. He said the currency was facing a huge pressure at the moment.

https://arynews.tv/en/dollar-rises-to-historic-high-of-rs-142-at-interbank-market/

https://twitter.com/x/status/1068368344770899968

https://twitter.com/x/status/1068373094497218560

https://twitter.com/x/status/1068375708739805184

 

[BHarwana]

Economic expert, Samiullah Tariq, speaking to ARY News, said the reserves of the State Bank of Pakistan had declined below critical level. He said the currency was facing a huge pressure at the moment.

https://arynews.tv/en/dollar-rises-to-historic-high-of-rs-142-at-interbank-market/

https://twitter.com/x/status/1068368344770899968

https://twitter.com/x/status/1068373094497218560

State bank has website go check it reserves are increasing and here is also news about reserves increasing. So you are wrong bro.

https://twitter.com/x/status/1068165659614416901

Its very bad and very sad @BHarwana

Nope this is good and should have been done long time ago. Dollar Dar did wrong to support rupee artificially.

 

[valkyr_96]

economy of scale only benefit if we have high capacity for production which we lack due to poor infrastructure and less electricity production so high devaluation will not much benefit us you are right as a nation we need to change our lifestyle but govt finance ministry should also try to properly manage things for the time being and make good decision if they had decided to go to imf they would have approached them much earlier so we would not see such consequences they should avoid uturns when making economic decisions and decided properly whether to go to imf or not once and stick to it

Economies of scale is microeconomics whereas we are dealing with marco-issue can you please read up on the J curve. Why do you say we have poor infrastructure? but we have high foreign and public debt. What happened to that money? Did we not invest that money in improving our future? Why are you not asking that question? are you sure we have less electricity production? #Champoo Usmani disagrees. Do you understand that the circular debt was never managed by both PPP and PMLN Istaq Dar came up with the concept of SPV to hide this debt I was working in the banking industry and I saw all of this happen...We gave PIA first loan of 20Bn to manage it affairs but when I left it became 45BN (5BN was syndicated) same was for PHPL (which runs quite high). What I can't understand is that how can you say that savings have decreased.... are decreasing.... will decrease you ate your saving son wake up you smoked it and got high. Suck it up the future is always bright. Yes the government should go for it or not there should be full clarity I have always advocated for the CPEC terms to be made clear. We can always tighten our waistbands....we are Pakistanis of course and we started with much worse. This is a financial crisis masquerading as an economic one and the government has not played its due part in presenting it as such.

 

[bafxet]

So, we are not going to IMF ? ... Once again, Rupee devalued massively. A man who use to quote examples of Britian's Democracy has come up with nothing except lies and only lies.

Imran Khan is not at all a man of character. He has ditched now and sure he will ditch in future. He is not worth trusting.

 

[Novice09]

@BHarwana @Nilgiri

 

[Fawadqasim1]

if someone thinks that this is pti's fault then they are economic retards both ppp and pmln govts are to blame.

 

[Mage]

@BHarwana @Nilgiri

This thread is basically @BHarwana Vs @Champion_Usmani

Watch from distance and enjoy.

 

[Champion_Usmani]

https://twitter.com/x/status/1068399138314878976

 

[Mage]

if someone thinks that this is pti's fault then they are economic retards both ppp and pmln govts are to blame.

Tbh judging after 100 days is stupid. You have to give them at least an year before evaluating their performance. Economic impacts need time to be felt properly. As of now if CAD decreases and reserves grow its all good.