Exchange Rates for Foreign Currency

Society Pakistan & World Affairs
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Panchi pai and PML(N) lovers, yeh kya ho rahay hay? Pakistan’s economy is blooming, oil prices are going down, country has now highest foreign exchange remittances, crossed $18 Billions, why in the hack price of dollar is increasing day by day? Just in Ramazan, it was Rs. 102.60. Buying price now it has suddenly jumped to Rs. 103.50. Your fraud marka leaders once promised that dollar would be remained in Rs.100 range. Why this continuous increase??? Any explanation from your finance minister??? Or even from you???

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Exchange Rates for Currency Notes

[TABLE=“class: table table–bordered, width: 293”]

[TH]Countries[/TH]
[TH]Selling (Rs.)[/TH]
[TH]Buying (Rs.)[/TH]

U.S.A.
103.25
103.50

U.K.
159.50
160.50

[TABLE=“class: table table–bordered one-whole, width: 293”]

[TH]City[/TH]
[TH]Gold (24-ct)[/TH]
[TH]Silver[/TH]

Karachi
39,000
540.00

2

Re: Exchange Rates for Foreign Currency

Foreign direct investment is down as well. The stats are worse as compared to PPPs tenure.

FDI plummets 58pc to $709m - Newspaper - DAWN.COM

@desert bird any pictures of multan metro?

3

Re: Exchange Rates for Foreign Currency

As per state bank's report, no new major industry/factory or local investment was seen, and that is because of the inconsistent monetary and idiotic tax policies, which investor/group would be here for long term when they know that the govt can implement any tax any time and no one is there to stop them???

the main FDI in Pak is in KSE, they buy, they sell and they take their money out with profit and that is the time when Rs takes a hit against usd, and now govt should fasten its seat belt, bumpy ride ahead...

Few things govt need to do,

1) Remove this accountant and get a FINANCE minister, country is being managed without a proper finance minister from last 10/12 years// hence no long term monetary,tax and financial policy...

2)To improve the tax net, declare agriculture and farming as an industry...

3) Ease the tax formula, better if make it flat... this will end corruption in tax sector

4) give all kind of benefits and reliefs on banking transaction and impose some tax on cash transaction, this will help in reducing, corruption, crime and terrorism.

5) last not least, have a longterm (say 8-10 years) tax policy for all the industries and trades and remain committed on them... don't change it like the weather changes in monsoon...

i am sure desert bird can't read all this

4

Re: Exchange Rates for Foreign Currency

I know you are against this govt and hate it like anything… but it is no way worse then PPP’s tenure when USD was 110+…

5

Re: Exchange Rates for Foreign Currency

FDI may be worse, but I don’t think the economic stewardship is no where as terrible as was during PPP tenure. For God’s sake, their solution to long term energy problem was to get rental power plants!!!

But then, how can we expect FDI to improve when the Prime Minister and Finance Minister themselves invest abroad?

6

Re: Exchange Rates for Foreign Currency

tum logon ki hmmat kesay hoye…
@desert_bird, please post another taraqiyati project… yeh log jealsous hian PMLN ki shandar kar kardagi say…

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Re: Exchange Rates for Foreign Currency

Even though it sounds surprising, it is correct when viewed in perspective. Compare the sovereign debts, forex reserves, FDI and growth rates, and sadly it turns out that technically speaking, previous era was better on paper.

As for power issues, current govt has done no better. Their approach to ending loadshedding has been equally bad. Despite oil prices dropping 60%, and power bills going up x2, circular debt and loadshedding situation has not improved.

Biggest reason, as pointed above, is that we have a family munshi for a finance minister, who is running the country like a family owned business. Priorities are all screwed up, and transparency is non-existent.

8

Re: Exchange Rates for Foreign Currency

panchi pai yah kya andher hay kuch hi mahinon main exchange rate 102 se barh kar 105 se bhi ziadah hogaya hay. yeh aakhir kahan rukega? Pakistan ne pata nahin kya tarraqi ki hay teen saalon main magar exchange rate musulsul tarqi kar raha hay.

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Exchange Rates for Currency Notes

[TABLE=“class: table table–bordered, width: 423”]

[TH]Countries[/TH]
[TH]Selling (Rs.)[/TH]
[TH]Buying (Rs.)[/TH]

U.S.A.
105.45
105.65

U.K.
160.80
161.80

[TABLE=“class: table table–bordered one-whole, width: 423”]

[TH]City[/TH]
[TH]Gold (24-ct)[/TH]
[TH]Silver[/TH]

Karachi
40,157
612.85

9

Re: Exchange Rates for Foreign Currency

Exchange rate keeps on increasing.

**Panic takes its toll on currency market as dollar nears Rs108 - Newspaper - DAWN.COM
**
KARACHI: The US dollar continued to rise despite ample supply and traded as high as Rs107.70 in the open market on Tuesday, bringing into question the strategy adopted by the State Bank of Pakistan (SBP) and exchange companies to keep the greenback at Rs106.20.
Currency experts believe that panic in the bourse has started to affect the currency market, and a rush for dollar buying has pushed up its value creating a wide gap between the inter-bank and open market rates.
The State Bank has been supplying dollars at Rs105.90 and exchange companies promised to sell it at Rs106.20. But the agreement on price was soon broken, allowing the greenback to set its own destination.
Currency dealers said the US currency is gaining strength due to increasing demand, but they failed to explain why the demand has suddenly gone up.
An expert on currency movement said the stock market crisis and investigation over terrorist financing have fuelled demand.
“This is the premium for heightened uncertainty on multiple fronts,” Eman Khan of Tresmark said, adding: “This panic could flow over to the interbank market especially as equity dollars will flow out.”
The inter-bank did not show any sign of panic but the currency dealers said the pressure is mounting to break the barrier of Rs105.50 per dollar. The outflow of dollars through equity market has picked up pace in the last 15 days.
According to a research report, $206 million has flown out from the equity market since the beginning of this fiscal year.
“If the inter-bank market is left free, the dollar will surely go up,” said currency dealer Atif Ahmed.
Though the State Bank succeeded to keep the exchange rate stable in the inter-bank market, it failed to bring the free-market forces under control.
The investigation against the terrorists financing has also taken a definite shape in Pakistan for a few months. However, after the arrest of Karachi-born currency dealer Altaf Khanani in the United States, the probe has been intensified.
“Earlier dollars were available for those not willing to be identified, but now these companies have stopped supply to them. So they are now purchasing it legally pushing up its demand,” said a currency dealer.
“Most exchange companies do business with Dubai. But the arrest of Khanani and closure of his Al Zarooni Exchange in Dubai have created fear among exchange companies that investigation could be widened to Pakistan.”
Published in Dawn, December 2nd, 2015

Exchange Rates for Currency Notes

[TABLE=“class: table table–bordered, width: 423”]

[TH]Countries[/TH]
[TH]Selling (Rs.)[/TH]
[TH]Buying (Rs.)[/TH]

U.S.A.
107.10
107.40

U.K.
161.00
162.00

[TABLE=“class: table table–bordered one-whole, width: 423”]

[TH]City[/TH]
[TH]Gold (24-ct)[/TH]
[TH]Silver[/TH]

Karachi
38,185
565.71

Multan
37,460
617.00

10

Re: Exchange Rates for Foreign Currency

We need to start looking into exporting Metros, perhaps the brains (or lack thereof) behind Metro as well :chai: