What's new

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

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

This is being done by PTI and they did good by doing this because what was the other option? Take loan from IMF that was wrong policy. Short term burden will translate into long term gain.
 
.
This thread is basically @BHarwana Vs @Champion_Usmani

Watch from distance and enjoy.

I really want to enjoy it... but when people feel that appreciation or depreciation of currency is the ONLY indicator of economic situation... it annoys me...

But point taken... Will keep an eye on the topic with lots of fun...
 
.
Record US dollar hike causes panic in financial market, analysts foresee economic crash in Pakistan

ISLAMABAD, Pakistan: The price of US dollar has reached an all-time high of Rs 145 in interbank trading, causing a huge panic in financial market and pushing an increase of Rs 760 billion in foreign debt.

It’s for the first time in the Country’s history that the value of US dollar against Pakistani rupee has increased by Rs 10 in a day.

Sources said that the people have left selling the US dollars in the market following a sudden huge hike in its price. They said that the price of US dollar has increased by 36 percent in last one year.

Sources said that the price of US dollar may even further rise in the future, which will destroy the Country’s economy.
 
. . .
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.

At least 3 years... in Pakistan's case more than that...
 
. .
It was RS 105 a year ago. This will hit Pakistan Military modernization very badly. Now Pakistan shall be able to buy only 2/3 rd of Weapons they had planned in their Budget.
 
.
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 on the pharmacy.
They kill the back of poors by making them more poor.
They want sacrifice from them but giving them no hope or relief.
This is not a lollipop if you say it such that means you are being deceptive. These are the facts that becomes a drama when the financial institutions are not independent. I have already given my suggestions. The poor will benefit if we can can even if temporarily transfer the wealth from the top to the bottom in real time. for starters you have heard of the aggressive tax regime on energy which was meant to lessen the impact on the poor people. Do you know how medicines are made? API is bought from India through an offshore SPV which sell it after adding the profit. This is purchased back in Pakistan at the higher cost. Can we do something about this? Surely there are substitutes for baby powder milk. We need to be proactive in identifying new opportunities and not request subsidies for depleted ones. What you are seeing is an inertial resistance to change compounded by the opposition -the same people who brought this on us (but you won't complain about that...no sir you are not a "poti") the faster we get over this.
 
.
I really want to enjoy it... but when people feel that appreciation or depreciation of currency is the ONLY indicator of economic situation... it annoys me...

But point taken... Will keep an eye on the topic with lots of fun...
Hyper depreciation of currency is not good specially it causes panic and makes people lose faith.

Good way to depreciate the currency is the way Japan did it. When it comes with huge manufacturing boom...well it's pointless to cmpare Pakistan or any subcontinent country to Japan.
 
. . .
It was RS 105 a year ago. This will hit Pakistan Military modernization very badly. Now Pakistan shall be able to buy only 2/3 rd of Weapons they had planned in their Budget.
how is that a worry....we had devastating floods as so we diverted the monies toward managing that disaster I believe we were inline to get more F16 and or possibly pursue J10s. As long as we have localization and not buying bloated foreign machines, we can still pursue modernisation with a small lag
 
.
This has been reported by ARY news... check date its 30 November 2018...

The government is holding talks with the International Monetary Fund, and the IMF has asked Pakistan bring down rupee in terms of the dollar, reported our correspondent.

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/
 
. .

Latest posts

Pakistan Defence Latest Posts

Pakistan Affairs Latest Posts

Back
Top Bottom