Re: Taste of new government on economical front
Brother, if you had read my first post carefully, you would not have asked. Here is what I wrote in my first post:
Though I did not blamed present government in my first post, they are actually responsible of accelerated devaluation after 8th April 2008, as TV briefing of Daar full of lies did showed the world their intention of corruption, their incapacity of understanding economical figures, their character of deception and lies, their incompetency regarding managing economy, and sign of their past behaviours returning. Hence due to such perception, accelerated devaluation started after that briefing of lies: Result:
Rupee, that was slowly devaluing, devalued Rs 0.70 between 1st of February 2008 to 8th April 2008 ( 68 days), abruptly devalued by Rs 2.45 after Daar briefing within 17 days from 8th April 2008 to 25th April 2008. Thus, a person has to blame Daar for this abrupt devaluation as this habitual liar intentionally lied without realising the consequence of his lies.
**For instance dollar exchange rate during those dates: **From dawn:
**Forex update:**KARACHI, Feb 01: The Pakistani Rupee was traded at Rs 62.7 to the US Dollar in the open market. (Bureau Report) (Updated @ 16:00 PST) http://www.dawn.com/2008/02/01/welcome.htm ]
**Forex update:**KARACHI, April 08: The Pakistani Rupee was traded at Rs 63.5 to the US Dollar in the open market. (Bureau Report) (Updated @ 14:15 PST) http://www.dawn.com/2008/04/08/welcome.htm ]
**Forex update:**KARACHI, April 25: The Pakistani Rupee was traded at Rs 65.95 to the US Dollar in the open market. (Bureau Report) (Updated @ 16:02 PST) http://www.dawn.com/2008/04/25/welcome.htm ]
**Rupee devaluing already started from late October as investors realised that PML(Q) might be voted out of power in general election and due to thuggish perception of present government leadership, but devaluation was slow. Between Feb 01 to April 08 (67 days), Pakistani rupee devaluated by Rs 0.80. **
Then Daar briefing full of lies came on 9th April and abrupt devaluation started as thugs of present government confirmed the perception that was already there and showed that they have not changed. By April 25 (at the end of last Friday trading), rupee devalued by Rs 2.45, from 63.50 to Rs 65.95 per dollar, within 17 days of Daar lies to the media. So, even though all this devaluation is due to perception of present government thugs, this abrupt devaluation after 8th April is direct result of Daar lies.