Rinnegan Sasuke
Tape Ball Star
- Joined
- Mar 19, 2016
- Runs
- 943
Wonder where it'll end, so far it's in free fall.
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Surely the big risk now is hyperinflation?
Kafi bad scene hai.... seems like IK government is failing on this front
Actually its doing good.
Falling PKR will make exports cheaper and hence in long term exports will rise. And SBP not interfering means precious Forex is being saved.
Actually its doing good.
Falling PKR will make exports cheaper and hence in long term exports will rise. And SBP not interfering means precious Forex is being saved.
Problem for Pakistan is that it is still reliant on exports like textile and agriculture. Unless and until we develop modern industries like IT, Pharma and auto etc. that India has, we will not achieve economic growth.
Yes, but there is no stabilization in sight. I'm no economist by any means so excuse my ignorance but an uncertain currency is never a good sign.
These take years, if not decades. Tell us who has been in power for the last 10 years?
Pakistan's economic growth has been hampered because of military interference.
Rubbish- Look at the PK growth from 47 until Zia died and you will see it outstripped anything in the so called Democratic era. In the Ayub era, we had the Koreans come to PK to look at our Model.
Comes down by 6-8 rupees today to 156-157
I think the hike in last few days is because many businesses need to make lot of payments in dollar by the end of this fiscal year (30 June)?
SBP intervened
That's a possibility IK had 2 meetings with the head of SBP in last 2 days the pressure created by media was too much to handle.
IK has my sympathies. He is doing right by letting the PKR find its own level. But media is creating unnecessary pressure and SBP is spending precious forex, a lot of which is short term deposit from China Saudi UAE Qatar to defend the PKR.
Rubbish- Look at the PK growth from 47 until Zia died and you will see it outstripped anything in the so called Democratic era. In the Ayub era, we had the Koreans come to PK to look at our Model.
The economic growth under military dictatorship was aided by U.S. funding. We were essentially getting bribed for assisting them in the Cold War and the WOT. It is not a sustainable model for achieving economic growth.
During PMLN govt our finance minister wise Ishaq Dar kept rupee overvalued at fix rate and burned forex he escaped to London in final year of the govt and is now staying in London because he can't face the corruption and money laundering cases against him.
His policies made sure our imports go to all time high at $61b while exports touch the buttom at $20b to create massive deficit. Its the 18 to $20b per year remittance by overseas Pakistanis that is providing oxygen to our economy. This year alone our current govt paid back $9.5b debt which is a record by any Pak govt and they came in power just a year ago now they need to find a way to pay back $27b in next 2 years.
Munshi destroyed PK economy with disastrous policies, Kaptaan has been tasked to rescue PK again. Unfortunately it took years to wreck the economy and it will years to repair. I don't think we are anywhere near the peak pain before we can begin to sustainably grow.
The economic growth under military dictatorship was aided by U.S. funding. We were essentially getting bribed for assisting them in the Cold War and the WOT. It is not a sustainable model for achieving economic growth.
Khan and his government appear genuine in their efforts to sort the economic mess out. The nightmare scenario however from their pov would be if they take the tough measures needed to get things back on track only to then be voted out of office by a short sighted and impatient electorate. The next government may then ruin all the hard work done and go on a spending spree.
What's the feeling on the ground? Do the electorate understand why the present government have had to do things like cut subsidies, increase tax etc?
My friend who came over from PK recently said it was a possibility, but I say it's a price worth paying and maybe just maybe, the crooked har****, may not be so bad, if they come back. But someone has to take the tough and painful decisions and as I said peak pain is still not been reached.
If that turns out to be the case wouldn't it render all the steps being taken null and void and back to the same old scenario? A second term is imperative and this government should keep that in mind with its policies,
Rubbish- Look at the PK growth from 47 until Zia died and you will see it outstripped anything in the so called Democratic era. In the Ayub era, we had the Koreans come to PK to look at our Model.
Exchange experts should we purchase $$$ as a long term investment
Already missed an opportunity during 2018election when it went from 108 tp 156 in a few months
The rupee hit a five-month high on Wednesday as the dollar was trading at Rs163.20 in the interbank market, data from the Exchange Companies Association of Pakistan (ECAP) showed.
“Steps taken by the State Bank of Pakistan are positive and the new rules and regulations discouraging illegal currency movement in the country have helped the rupee in the last few weeks,” ECAP Chairman Zafar Paracha said while speaking to Dawn.
Better foreign currency inflows and lower outflows due to declining imports and debt repayments have also bolstered the outlook for the local currency.
The rupee has remained stable over the last two weeks, trading below Rs165 in the interbank market after peaking at Rs165.05 on October 1.
Meanwhile, the grounding of airlines across the world due to the coronavirus pandemic has also encouraged expatriates working in other countries to send foreign currency through formal channels, added Paracha. He said in the pre-Covid days, a huge chunk of these inflows was arriving into the country through illegal channels of hundi and hawala.
Pakistan has received significant inflows in the form of remittances in the last three months. Cumulatively, inflows during July-September jumped 31.1 per cent year-on-year to $7.174 billion compared to $5.452 billion in the corresponding period last year, State Bank of Pakistan (SBP) data showed.
However, Paracha said the government should work on increasing exports to earn foreign exchange through a reduction in duties and pushing 'Make in Pakistan'.
Demand for foreign currencies has fallen after the G20 deferred Pakistan’s debt payments of around $2 billion till December. Moreover, World Bank President David Malpass on Monday said G20 creditor countries were also considering an extension in the debt suspension initiative for another six months.
https://www.dawn.com/news/1585035/r...-against-dollar-as-greenback-falls-to-rs16320
I think as a country we should be looking at bringing down to 140. But that would require a huge increase in exports.
If US passes another stimulus that can happen without Pak govn doing anything..
Why do you say that? By your logic (and tbh that was considered traditional logic) this should’ve already happened earlier. US is printing money like crazy however inflation has barely moved.
If US passes another stimulus that can happen without Pak govn doing anything..
Why do you say that? By your logic (and tbh that was considered traditional logic) this should’ve already happened earlier. US is printing money like crazy however inflation has barely moved.
Yes, it's called strength through attricition. The same applies for INR, its alleged strength is derived from USD/EUR/GBP/YEN weakness when in reality the INR isn't worth the kak it's printed on.
162.5 today... Can we reach pre-covid rate of 155.
Better than the min of 168 seen during height of covid.