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

[valkyr_96]

This was few weeks ago...

https://twitter.com/x/status/1055196030860513290

https://twitter.com/x/status/1055196034014609409

https://twitter.com/x/status/1051114860036141056

https://twitter.com/x/status/1051116964788269057

Mufta Ismail is a liar.....he is comparing a current increase YoY to CAGR (which is a smoothed out increase over the past 5 years) of the debt taken over by PMLN of course the jury is out on this as the government has still not completed an year. This is the level of our ex finance minister.

 

[Champion_Usmani]

Rupee slumps to record low of Rs144 against US dollar

The Pakistani rupee hit an all-time low on Friday against US Dollar as it saw a further devaluation of Rs10, reaching Rs144 in the interbank market.

The US Dollar was being traded at Rs134 on Thursday when the market closed. The market opened on Friday with a whooping increase in the rates, reaching Rs144. The latest devaluation of rupee has happened amid the current ongoing dialogues between the government and the International Monetary Fund (IMF).

As the government seeks a bailout package from US-based lender, going on an IMF programme might allow the rupee to depreciate further, as economists believe that the rupee-dollar market parity may go as high as 150 rupees to the dollar. Unfortunately, the options for the government are limited and the need for an IMF programme cannot be ruled out.

As per data compiled by Bloomberg, the Pakistani currency is the worst performer in Asia since December.

 

[shah_123]

How?
Wheat sugar meat tea at same price. Cotton yarn and oil at same price how?

https://twitter.com/x/status/1068013199507607553

Petrol price gone up, Transport price gone up, electricity price gone up, gas price gone up, school fees gone up ---- input cost for farmers gone up ( you know how much dap/urea price increased, don't you?) -- Govt is telling the farmer that inspite of input cost going up, we will not increase the support price, say wheat (and the reason the price is still the same)

 

[Hakikat ve Hikmet]

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

IMO, Pak is taking the "path not taken" of switching to Yuan for the trade with China!! Anyway, a strong drive to document the economy and tax collection needs to follow!!! Going to IMF might have national security risk too!!!!! Their patience have already run out.....

 

[BHarwana]

What this have to do with not going to IMF?

We were going to go to IMF because of balance of payments and which PMLN created with dollar appreciating we will not have to go now.

 

[Champion_Usmani]

In PM Imran Khan led government, rupee has seen an abysmal downfall which has surged debts up to Rs. 975 billion.

 

[Hakikat ve Hikmet]

I remember Argentina was adamant about is peg to dollar even when it saw the capital being transferred out as the crisis unfolded. The current government is way better. People are too young to understand that Nawaz had qarza utaro mulk sawaroo scheme/scam https://propakistani.pk/2016/12/29/govt-pay-back-contributed-qarz-utaro-mulk-sunwaro-scheme-1997/

Unfortunately, 99% of the Muslim countries are run via proxies at the direct and clear instruction of Iblis, the proper name of Devil/Satan/Lucifer etc.....

 

[BHarwana]

Petrol price gone up, Transport price gone up, electricity price gone up, gas price gone up, school fees gone up ---- input cost for farmers gone up ( you know how much dap/urea price increased, don't you?) -- Govt is telling the farmer that inspite of input cost going up, we will not increase the support price, say wheat (and the reason the price is still the same)

Wheat don't need petrol so wheat will not be effected. Two warned us about wheat so we depreciate rupee and export wheat this way to over come wto warning

https://twitter.com/x/status/1067706695273582592

 

[Champion_Usmani]

https://twitter.com/x/status/1068403361324646400

 

[BHarwana]

IMO, Pak is taking the "path not taken" of switching to Yuan for the trade with China!! Anyway, a strong drive to document the economy and tax collection needs to follow!!! Going to IMF might have national security risk too!!!!! Their patience have already run out.....

This is a PMLN happy day thread but trolls don't know about economy.

 

[valkyr_96]

Ofcourse you can but at a slow rate and in low quantity. That is what exactly I said.

what is slow or too slow? and slow rate means in low numbers it does not mean that we are slowing down physically and becoming couch potatoes.

 

[Champion_Usmani]

According to economic experts, the spike in dollar comes owing to the widening current account deficit and International Monetary Fund’s (IMF) suggestion to realign the rupee with market fundamentals to access funds.

The State Bank of Pakistan is set to announce its monetary policy today and the market expects an increase in the interest rate which could have an effect on the dollar rate as well. The current policy rate is 8.5%.

With the latest devaluation of rupee, the total debt owed by Pakistan has spiked by another Rs760 billion.

https://en.dailypakistan.com.pk/hea...ainst-rupee-as-govt-completes-first-100-days/

 

[BHarwana]

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

 

[shah_123]

Wheat don't need petrol so wheat will not be effected. Two warned us about wheat so we depreciate rupee and export wheat this way to over come wto warning

https://twitter.com/x/status/1067706695273582592

Has the input cost increased for farmers or not, wheat price remaining the same means further economic burden on farmers, right?

I know and this has always been the case, the elite class never feels the burden, the system gives them kinda bailout package -- the lower /middle class is severely hit by inflation and you saying there's no inflation in the country.

 

[AZ1]

This was few weeks ago...

https://twitter.com/x/status/1055196030860513290

https://twitter.com/x/status/1055196034014609409

https://twitter.com/x/status/1051114860036141056

https://twitter.com/x/status/1051116964788269057

So much for being an expert

Buy PIA, get Steel Mills for free: Miftah Ismail
https://www.samaa.tv/news/2018/03/buy-pia-get-steel-mills-for-free-miftah-ismail/