Pakistan Rupee crashes at 300
- Thread starter PradoTLC
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mangochutney
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10 lakh is £2600
Wow
Wow
Ali_Baba
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it is so easy and cheap to be a millionaire in the land of the faujistan now it seems...
Brian Lara's record in danger..
Rollno21
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Its not right to make fun of someone's misery.
mangochutney
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Yes . Who cares if the children can’t get a roti to eat at night time as long as the crooks are happy
Mirzali Khan
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Mentee
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So who do you think punjabis should have voted for if not for iji and latter on n league ? Anp who used to curse punjabis day in and day out or Bhutto who even went to the extent of plundering privates schools of Punjab using nationalisation as a legal tool ?
Clutch
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Just give up..
Pakistan is a failed banana republic of Faujistan?
Pakistanis are slaves for the 1% elites who can rape and pillage the slave class.
ghazi52
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,.,..
The inevitable has happened. On August 24, the Pakistani rupee fell below 300 to a US dollar in the interbank market. In less than two months of this fiscal year (between July 1 and August 24), the rupee has lost about five per cent value against the mighty greenback.
The dollar has been on the rise since the lifting of import restrictions from the beginning of this fiscal year on July 1 at the insistence of the International Monetary Fund (IMF). Uncertainty regarding the timing of general elections in the country is high.
The ongoing political/judicial/constitutional crisis is growing intense day by day. That is why a trend of dollarisation of assets seems to be in the works. Purely speculative dollar buying from the open market is also in progress. On August 24, the rupee was seen trading in the band of 315-317 in the open market.
The rapid fall in the rupee’s value has eroded business confidence. Wholesalers of several imported items, most notably solar panels, have started revising prices on a daily and hourly basis, making it difficult for retailers and end-users to absorb quick price shocks. This is contracting demand on the one hand and pushing up inflation on the other.
The inevitable has happened. On August 24, the Pakistani rupee fell below 300 to a US dollar in the interbank market. In less than two months of this fiscal year (between July 1 and August 24), the rupee has lost about five per cent value against the mighty greenback.
The dollar has been on the rise since the lifting of import restrictions from the beginning of this fiscal year on July 1 at the insistence of the International Monetary Fund (IMF). Uncertainty regarding the timing of general elections in the country is high.
The ongoing political/judicial/constitutional crisis is growing intense day by day. That is why a trend of dollarisation of assets seems to be in the works. Purely speculative dollar buying from the open market is also in progress. On August 24, the rupee was seen trading in the band of 315-317 in the open market.
The rapid fall in the rupee’s value has eroded business confidence. Wholesalers of several imported items, most notably solar panels, have started revising prices on a daily and hourly basis, making it difficult for retailers and end-users to absorb quick price shocks. This is contracting demand on the one hand and pushing up inflation on the other.
Puffin
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There is no quick fix. There are NO EASY ANSWERS or policy changes that can produce a favorable result within a reasonable time frame. Your debts have reached a level where you have to work really hard just to stand still.
No govt of any shade can deal with these gaping sinkhole. Ultimately Pakistan will have to declare itself bankrupt and hope the creditors take some pity and either cancel a large proportion of the debt or reschedule well into the next 2 decades.
Without the freebees from the West and the Gulf , Pakistan cannot adjust to the new realities.
Pakistan is entering a dark future for at least 10 to 15 years and can emerge into some sort of a future after that period by a monumental sustained disciplined effort having in place the right economic policies
No govt of any shade can deal with these gaping sinkhole. Ultimately Pakistan will have to declare itself bankrupt and hope the creditors take some pity and either cancel a large proportion of the debt or reschedule well into the next 2 decades.
Without the freebees from the West and the Gulf , Pakistan cannot adjust to the new realities.
Pakistan is entering a dark future for at least 10 to 15 years and can emerge into some sort of a future after that period by a monumental sustained disciplined effort having in place the right economic policies
ghazi52
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,..,.
New low: rupee hits 302 against US dollar
- Currency depreciates another 0.33% in inter-bank market
Ali_Baba
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So - How low can it go… how low can it go ...
