Will Rupee Devalue Further? Economic roller coaster

[malik593-1]

the price you quoted are no where else to be found perhaps besdies taking screen shots you should have also taken in account authenticity/age of that specific link , prices may increase but as of 11;10 am here are the refrences and from jun 31 2021 till date all the variants have decresed by pkr +_0.1 million there is no increase

[krafiq]

My only qualm is that we cannot afford to play these games but still under delusion we don't refrain.
" Son your ego is writing cheques your body can't cash" to quote a cheesy line from Top Gun

[malik593-1]

lets see where interbank closes today my guess is 171 is long due now ,and it would be a psychological barrier as well that would knock another brick out of the already weak wall

[Xulfiqar]

How did you conclude such?

If your analysis holds weight that means that Pakistan is a self sustaining economy and sanctions can weaken it.

Last checked its not, its an import based economy and its citizens are loaded with stolen/black/illegal monies. Its govt level runs on the alms dropped in the bowl from outside its borders.

[krafiq]

Pakistan is not a self sustaining economy, sanctions will weaken it and it cannot afford to play such games which it does.
Xpats dollars, hundi, currency smuggling, rich middle east countries dollars are a few sources which are being peddled across border.

[krafiq]

https://www.dawn.com/news/1651615

EU jumping on the bandwagon to pump euros in Afghanistan

[capsat]

an LC via HBL in US$ was established at 173.21, at 10.45 am this morning, without forward booking. The shipment is expected on or before Oct 23 2021 by AIR. It is high risk, because bankers' have already warned of 180 cut-off for Dec 2021 closing.

[Xulfiqar]

The weakness of this imaginary wall is not worth the breath mentioning it.

Reason being that the local people have literal tons upon tons of cash at their disposal (just look at any food street).

Even if dollar was rs 600/-

It wont matter to them, those food streets will still be packed solid with customers.

In actual inflation time, they should be deserted.

[capsat]

1st round of talks between IMF & Pakistan team has failed in Washington. Minister Shaukat Tareen & Baqar Raza Governer State Bank has travelled to New York. While Finance Secretary Yousf Khan would stay in Washington Till tuesday.

https://tribune.com.pk/story/2325227/pakistan-imf-talks-fail-once-again

prepare for tough days ahead. utilities as in Gas & electricity charges will quadruple in next 6 months.

While fuel prices will cross Rs. 175 & float to 200 per litre by Dec 2021

Vehicle prices will shot up upto 30% of current list prices and the sales will drop to single digit figure for the new tax regime over Imported vehicles.

Govt plan to contain and reduce Trucks / Buses & Utility vehicles import tariff .

[VCheng]

prepare for tough days ahead. utilities as in Gas & electricity charges will quadruple in next 6 months.

While fuel prices will cross Rs. 175 & float to 200 per litre by Dec 2021

Lekin aap ney ghabrana nahi hey!

[mgalaxy3]

When withdrawing from USD currency account, does bank give you fresh notes of current year?

Or they can be any old note even from past years? As you all know, money changers refuse old notes or give very low rate...

SO how to counter this? Or can bank give you rupees directly too and not USD?

@khurem @Panther @HellsGuardian @Nabs @OgRe1985 @mehran @chameleons

[Nabs]

SO how to counter this? Or can bank give you rupees directly too and not USD?

Don't know about fresh notes problem, one time a money changer rejected a $100 bill because of a very small stamp on it, I went back to bank and replaced the bill with a clean one.

You can also encash USD to PKR with bank (done this many times in past), but for that I think you need USD and PKR account in same bank, they will encash and transfer to your PKR account.

[capsat]

Lekin aap ney ghabrana nahi hey

an expat friend of mine who is working for JP Morgan in New York shared this line, at 6.30 am Sunday NY time. A very deep message in between lines

Pakistan is treated by US bloc countries as 'significant' but not sovereign.
Sovereign is being able to survive without a bigger boy looking after you.

We are bouncing ball, Courting with US, Luring Russia and in bed with China

What else is needed to be Sovereign

[OgRe1985]

When receiving notes from Bank check the Notes carefully.Banks sometimes tried to get rid of old notes or notes with stamps.
Some money changer will not even accept notes with pin holes. I spend some quality time on checking the notes while receiving from bank and always return them the note on spot which has some mark stamp or old notes

[mgalaxy3]

You can also encash USD to PKR with bank (done this many times in past), but for that I think you need USD and PKR account in same bank, they will encash and transfer to your PKR account.

That sounds convenient if banks really do this.

I spend some quality time on checking the notes while receiving from bank and always return them the note on spot which has some mark stamp or old notes

Sounds fine for less quantity of notes. Have you tried the option of getting pkr vs usd direct from same bank?

[OgRe1985]

Market rate is always higher than the rate bank provides.

[VCheng]

And we like it that way! We have consciously made choices over decades to be in this position.

[HellsGuardian]

Our economic conditions are worsening every day but I still see no steps taken to curtail it before things get totally out of hand (if not already?). Neither govt is looking to mitigate it neither common man is sincerely concerned.
Look at import bill below, and lately i saw car sales were sky high. Kahin se lagta nahi mehngai hai, our people really have tons of money to spend. Lets see how long we can keep spending like Saudi kings.

[uzeemujeeb]

@mgalaxy3 sir dil chohta na karayn. kuch sabr karayn, Allah (swt) sabr karnay walon k sath hai.
the artificial SALES digits in plain sight may look cool ground reality is totally different.

Some of the 'expected new launches in 2021' will be delayed beyond March 2022.

actual sales data is always ' number of vehicle registered ' not the data
which comes from dealerships parking black money. With fuel prices & currency upward trend new car buying will come to halt in next 60 days.

The scamming of CBU imports under manufacturing / assembly license has been taken up to the highest office by the concern departments. Wait and see result in 45 days.

[nfssaad]

mg being at the forefront of this abnormally high import......