Rupee's Remarkable Renaissance

smooth_guy · March 14, 2014, 7:03am

Re: Rupee's Remarkable Renaissance

The rumor has it that KSA gave $1.5B as loan on NS personal guarantee and its not aid money or payment for future security service by Pak Army to Royal family as it has been reported by different media personalities. If it is a loan money, then the effect on $$ will evaporate in couple of months, as Pak has to give installment on repayments of IMF soon. $$ jumps back to Rs. 101 this morning.

Zafra · March 14, 2014, 12:33pm

Re: Rupee's Remarkable Renaissance

In economic terms it depends really. Do you consider what Nawaz Sharif policy economically sound then, the dictator held the same policies. If you don't then the dictator who now owns a nice expensive farm house had no progressive economic policy at all.

The simple point is that Nawaz Sharif is doing exactly what the dictator did. You can't side with one and complain the other is wrong.

And khoji Musharraf sold out a 20 year old Pakistani Military policy for US dollars. Since Musharraf selling out to the US we have had more Pakistanis die, we have had economic instability, general loss of economic value and more importantly we have had no solid economic progress. As an example there was no power policy during musharraf's time. There was no progressive economic development policies.

Dhoti_Main_Dhamaka · March 14, 2014, 1:31pm

Re: Rupee’s Remarkable Renaissance

delivery of 2nd installment depends on performance of ISIS Pakistan.

Restored attachments:

Amal · March 14, 2014, 2:58pm

Re: Rupee's Remarkable Renaissance

What is personal guarantee by the way?

Dhoti_Main_Dhamaka · March 14, 2014, 3:00pm

Re: Rupee's Remarkable Renaissance

^^Something like...if i ever get kicked out of Pakistan ever again i will open another steal mill in KSA ya sheikh(Anguthay ka nishan)

Amal · March 14, 2014, 3:14pm

Re: Rupee's Remarkable Renaissance

Did the dollar surge to 101 today? What's the latest?

Dhoti_Main_Dhamaka · March 14, 2014, 3:23pm

Re: Rupee’s Remarkable Renaissance

1$=Rs101
@http://www.forex.com.pk/

kchughtai · March 14, 2014, 4:11pm

Re: Rupee's Remarkable Renaissance

let us see what happens in the next week. $ has already started bouncing back. Ishaq dar keep telling that "Mein nay bohat mehnat ki hai". what is his 'mehnat' btw?

Silaaj · March 16, 2014, 6:25am

Re: Rupee’s Remarkable Renaissance

This is far from an organized, free market. It is a video game.

Govt intervenes to check volatility - DAWN.COM

KARACHI: The ministry of finance and the State Bank decided to intervene to quell speculation and check volatility as the US dollar bounced back to Rs99.50 in the inter-bank and Rs102 in the open market on Friday.
The government achievement to bring back dollar from Rs109 to Rs98 was undermined as dollar gained Rs1.50 on Thursday, but it was frozen at the same level on Friday. However, the open market was short of dollars while sellers disappeared from the market. Exchange companies were invited in the State Bank on Friday and asked to explain the situation.
The money changers blamed speculators who exploited the situation. Sources said the finance minister had advised the State Bank to supply dollars in the open market and bring back the dollar at the level of Rs98.
“The State Bank has assured that the supply of dollar will begin from Monday for the open market,” said Malik Bostan who met the acting Governor of State Bank.
He was sure that the dollar will fall back below Rs100 in the open market soon after the resumption of dollar supply.
He said the exchange companies have deposited around $100 million in the State Bank during a week before this shortage grabbed the market.
Currency dealers said that $10m open market would fall once the supply starts as it happens many times earlier.
The currency dealers were expecting high trading volume on Friday, being last trading day of the inter-bank, but the market remained dull.
“Not much buyers were there and it seems that the market was influenced indirectly to stop the dollar from upward advancement,” said Atif Ahmed, a currency dealer in the inter-bank market.
Currency dealers and experts said the exchange rate would take eight to 10 days to settle down while they believe the inter-bank market may settle between Rs98-100.
“The dollar could have gone further down had the government not indicated that Rs98 is the last destination of the dollar and this was done due to mounting pressure of exporters,” said Bostan.
The textile sector received the biggest blow due to sharp devaluation of dollar. Textile brings 60 per cent of the country’s total export proceeds.
The representatives of the textile body while appreciating the achievement to bring back the dollar at Rs98, demanded compensation through other measures, like providing loans under export refinance at 3pc.

Zafra · March 18, 2014, 12:14pm

Re: Rupee's Remarkable Renaissance

And its 100 today. Seems to be 2 weeks and stabilizing.

Amal · March 18, 2014, 1:25pm

Re: Rupee’s Remarkable Renaissance

http://www.dailytimes.com.pk/print_images/635/2014-03-18/cartoon-1395091850-8337.jpg

Anwer_Pasha · March 18, 2014, 6:11pm

Re: Rupee’s Remarkable Renaissance

Price of bent down to Taliban
https://fbcdn-sphotos-h-a.akamaihd.net/hphotos-ak-prn1/t1.0-9/p261x260/1512728_10152112352205528_909986518_n.jpg

Captain1 · March 18, 2014, 7:50pm

Re: Rupee’s Remarkable Renaissance

I don’t think its price for Taliban, rather price to support KSA efforts overseas (Syria?)

Sachaydino · March 18, 2014, 8:43pm

Re: Rupee’s Remarkable Renaissance

Zardari ko to KSA se ek dhela bhi na mila, kya is khabar ko bhi Guinness Book of Record main darj karaaiay:) Jealous b@stard

Captain1 · March 18, 2014, 9:05pm

Re: Rupee’s Remarkable Renaissance

^ lekin billions of dollars AID/loan le kar bhi koi project start/finish na karna, reserves ka $0 pe rahna… ye to Guinness book of records mai aa sakta hay na

Sachaydino · March 18, 2014, 9:41pm

Re: Rupee’s Remarkable Renaissance

kaisay shrou karata, pehlay fauj/ISI us ke peechay parhi, phir Zia-ul-Haq ka right…kana dajjaal aka CJ Chaudhry of Punjab us ke peechay parha, rahi sahi kasar, International Play Boy ke 'Ghairatmand maut ke saudgaron ne poori kar di. In haalat main to Obama bhi hota to dhum daba ke North Pole bhaag jata:hehe:

Captain1 · March 18, 2014, 9:44pm

Re: Rupee’s Remarkable Renaissance

lekin $$$ Swiss banks mai transfer karnay time bohot thaa baboo ke paas

Sachaydino · March 18, 2014, 9:47pm

Re: Rupee’s Remarkable Renaissance

koi mai ka laal yeh saabit na kar saka, including Punjab da Sher, Tattoo and after that double cross the most honest dictator, jis ka motive tha “sub se pehlay dollar” jis ke paas 11 saal hukumat thi, aor woh us ka qaaidi tha. Yeh sub munafiqon, makaron ki baatain hain:hehe:

Captain1 · March 19, 2014, 2:42am

Re: Rupee’s Remarkable Renaissance

NRO

kakaballi · March 19, 2014, 4:55am

Re: Rupee’s Remarkable Renaissance

Haram khori ke time yeh sab yaad nahee rehta.