US dollar reaches Rs160 in interbank market

[Arsalan]

Such volatility will remain until the IMF bailout is signed and the terms made known.

Terms made know to? Normally such deals are not made public (which is wrong) but there is not doubt that speculation and uncertainty are the worst enemies of market! It is expected a deal will be finalized in two to three weeks i guess. After which i see dollar going up towards 170 and then coming back to around 150 in time till November in my opinion. Lets see and lets hope this deal is signed/finalized soon now.

 

[VCheng]

Terms made know to? Normally such deals are not made public (which is wrong) but there is not doubt that speculation and uncertainty are the worst enemies of market! It is expected a deal will be finalized in two to three weeks i guess. After which i see dollar going up towards 170 and then coming back to around 150 in time till November in my opinion. Lets see and lets hope this deal is signed/finalized soon now.

The IMF has to publish the terms of its bailout when the Board approves it.

 

[Arsalan]

The IMF has to publish the terms of its bailout when the Board approves it.

O you mean by IMF. Yea that surely will be available.

 

[B.K.N]

The IMF has to publish the terms of its bailout when the Board approves it.

Imran Khan was saying in past government artificially kept the value of rupee higher than it's real value for money laundering and it costed 7 billion dollars annauly

 

[VCheng]

O you mean by IMF. Yea that surely will be available.

Of course:

https://www.imf.org/en/Countries/PAK#countrydata

Detailed reports of all previous bailouts plus all the Pakistani submissions to get waivers approved are available as well.

For example:

https://www.imf.org/en/Publications...ngement-and-Request-for-Modification-of-43837

 

[Arsalan]

Imran Khan was saying in past government artificially kept the value of rupee higher than it's real value for money laundering and it costed 7 billion dollars annauly

Thats a fact that can be verified by anyone in revenue department who is willing to come out and share the truth. The real value of dollar based on our import/exports was around 167Rs while it was being kept at around 130-135 Rs!!

Of course:

https://www.imf.org/en/Countries/PAK#countrydata

Detailed reports of all previous bailouts plus all the Pakistani submissions to get waivers approved are available as well.

Yup this is surely available. I thought you were talking about the government explain it all (which is rare).

 

[VCheng]

Yup this is surely available. I thought you were talking about the government explain it all (which is rare).

Maybe Naya Pakistan will be more open than the Purana Pakistan in this matter? One can only hope.

 

[Verve]

Yesterday PM and FM both categorically denied any rate set by IMF in the agreement.

 

[VCheng]

IMF does not set the rates. The government agreed to let market forces set the rate.

 

[Arsalan]

Maybe Naya Pakistan will be more open than the Purana Pakistan in this matter? One can only hope.

I hope so!! It have to be if we are to make progress!!

Yesterday PM and FM both categorically denied any rate set by IMF in the agreement.

IMF wont ask to set the rate, IMF will ask to let market set it and honestly speaking, this is how it should have been anyway!!!

 

[Evil Flare]

1 USD to 155.65 Pakistani Rupee today

 

[Nilgiri]

Guys why is no one starting new threads now that the Dollar is trading at around 156 in inter bank?

On a serious note, don't!! The dollar is most likely to go up again to 165 - 170 mark before it comes back to 150 region. I predict this happening by November and i don't think the current fall will be permanent.

The current band range seems to be 160 +/- 5

https://www.xe.com/currencycharts/?from=USD&to=PKR&view=1M

 

[Arsalan]

Yesterday PM and FM both categorically denied any

The current band range seems to be 160 +/- 5

https://www.xe.com/currencycharts/?from=USD&to=PKR&view=1M

It is!
However that is basically based on year long working while fluctuation will be on daily basis so that why we see it around 156 right now.

 

[Asian.Century]

Its now back to Rs 153. Much improvement, but at start it was just Rs 109.

 

[AZ1]

Its now back to Rs 153. Much improvement, but at start it was just Rs 109.

stop smoking it was 120 and in 2018 It even went to 128 just before pti.

source

Dollar hits historical high at Rs148 intraday in interbank market

Market fears further devaluation after agreement with IMF, which is pushing a "market determined exchange rate".

dawn.com