Will Rupee Devalue Further? Economic roller coaster

[Xulfiqar]

Ive usually haunted saraffa bazaar for precious metals or getting precious stones put into rings or buying gold pieces - every single time I got a proper invoice/reciept etc.

What kind of shady shops are dealing in gold that refuse to give a paper trail for it?

[salmanshah1]

Updates?

[capsat]

if you read the post #254 and check the value, you can easily determine situation ahead.
PKRs.168 --170 is expected threshold for the US Dollar upto Dec 31 2020.
Fractional spikes are connected to regional situation.

[homayoon]

Since last ouple of weeks the rupee is gaining against the dollar. Our predictions going wrong or this is just temporary ??

[Einstein]

I think the name of this thread needs to be changed to something less chaotic. People were predicting dollar at 200 last year and advising to convert all savings in pkr to usd on this very thread.

Blindly following the goons who sit on the television screens every evening through night and predict the worst for this country, will make you pessimistic and panicked.

[homayoon]

Rupee gain getting momentum, pundits on this forum are mum!!!!!

[mgalaxy3]

Lol. Really?

104 to 165 and you're happy over it? Almost halved. They were all right.

[Xulfiqar]

OM SHANTI!!

anything else? - btw this will get you killed in Pakistan (if you know what I mean!)

[saboor73]

I think the name of this thread needs to be changed to something less chaotic. People were predicting dollar at 200 last year and advising to convert all savings in pkr to usd on this very thread.

Blindly following the goons who sit on the television screens every evening through night and predict the worst for this country, will make you pessimistic and panicked.

Covid pandemic turned out to be a saviour , otherwise 200 was possible

Remember US is one of the most effected country and has seen lockdown for longest period so stable dollar is no good news its won't stay same way as soon as things settle dollar will again shoot in value

[capsat]

Dec 31 2020 is still 82 days away, keep fingers crossed.

[VCheng]

Dec 31 2020 is still 82 days away, keep fingers crossed.

As long as Pakistan consumes more than it produces (remittances do not count here), its currency will remain on a long downward trend, averaging about 10% devaluation yearly, over time. Governments may try to influence this for short periods of time, but overall, the adverse balance of its economy will always trend towards this mean.

[homayoon]

[Xulfiqar]

too bad this type of thinking is considered "puranay zamanay ke chaacha" type thinking. - because the new gen wants to buy everything, including education, life partners and also law.

[HellsGuardian]

Guys can you name any local Pakistan companies that has its branches in other countries? I mean we have a lot foreign multinational companies here but is there any company of any sector which was able to spread its wing outside Pakistan? My knowledge may be limited which is why i am asking.

[aakbar]

There are a few such companies. DESCON has presence in UAE, KSA and Qatar. In UAE, it has a manufacturing unit in DEZ while it has engineering & construction services office in Abu Dhabi. Descon also had an office in South Africa but not sure if it is still there. Similarly, Khaadi also opened many stores in UK and middle east a few years ago.

[pwuser152809657887]

Yunus Brothers Group!!!

[Massive_One]

J. (if you consider that as a company, it is a business though) does have its branches outside Pakistan.

[VCheng]

too bad this type of thinking is considered "puranay zamanay ke chaacha" type thinking. - because the new gen wants to buy everything, including education, life partners and also law.

The ones who have hard currencies remitted to them to spend inside Pakistan can, and do, think like that. However, the economic principles do not care for any human sentiments, and behave in utterly predictable trends, the value of the PKR being one of them as I have described above.

[Xulfiqar]

Yes, thats so amazingly true and simple, but too bad that people with common sense mindset are considered “black sheep” in Pakistan

[Nabs]

Dollar will go to 200, then 300, then 400, then 500. Its not a matter of if, but when. Its going to happen sooner or latter. We can't even feed the population now, importing wheat from Russia. Low oil prices and weak consumer buying reduced import bill, also a lot of Pakistanis got laid off in UAE and Saudia who came back home and brought their savings with them, hence a jump in remittances. Additionally, dollar has lost significant value against all other currencies - see dollar index chart.

This is all temporary.

Fluctuations happen in curriencies, but long term upward trend of USDPKR is intact. Fundamentals haven't changed, we're a failed state.

Don't forget Reko Diq case, currently there is stay on penality by world bank, but if Pakistan have to pay $6 billion penality which is the same amount we got loan from IMF, dollar will fly instantly.