from forex pk. latest
US Dollar USD 162.3 162.8
US$1 = PKRS. 165+
In open market as of 15:55 hrs today , trading at 167.75 Rs. May God helps us as to what is coming ahead , a storm of inflation, theft , burglary. Protect your self and your valuables.
at closure of day
All currencies are weakening against dollar due to coronavirus
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Let's hope we get through this storm, there will always money to be made/lost.
At closure of day it is back to Rs.164.25 at banking closure 27.03.2020
Due to intervention of State Bank in the open market, but SBP does not have an endless supply.
Until daaallars are injected this may keep appreciating.
With current set of rulers rupee would go to new lows, whatever they do. Now they have asked IMF for additional 1.4 billion dollars to stop the free fall. IMF will give them and they will also burn it and the cycle goes on till IMF controls everything in the country from your nukes to the army headquarters. At the moment IMF has complete control of your Finance Ministry, State Bank of Pakistan and FBR.
This is why we should never let businessmen or sportsmen run the show.
If someone is capable of buying a seat, they are not qualified.
Any businessman/woman proposing a law should never be done as it will always be done to profit him/her
The time to buy USD was couple of years ago when it stabilized below 105. The time to sell it was when it hit 160. Now it is not wise for a long term investment in the USD. Why?1. USD is overpriced in the short term.2. Corona will hit USA harder than it will hit Pakistan3. All my friends who had savings in other countries are buying property in pakistan (or planning to)4. Every year Pakistanis living abroad send a LOT of cash5. Property RoadBlock has been removed very recently and sales are picking up
Have been listening similar stuff since the cases in US have started to wreak havoc. But still, having USD is better than having them in PKR.
Gold!!!Paper money can be wiped out in a blink of an eye. Desperate times?
Just saying.
AoA All,I think Nazuk More pe rehne wali Pak economy , ek aur nazuk mor se guzarna wali he ... Repercussions and impact of CORONA on the value of Rupee? I think it would be interesting to see as others currencies will devalue also?
loan dependent economies will get the severe wring
With talks / appeals of waivers in loan repayments and rescheduling of Pak debt gaining strength in Govt circles and even in media now, a default event on Foreign debt is likely on the cards. If this happens, expect rating agencies to downgrade Pak sovereign ratings which will result in dollar outflow and pressure on Rupee Dollar parity. I'm expecting further Rupee depreciation soon.
Can we buy USD from banks?
