Will Rupee Devalue Further? Economic roller coaster

[awais924]

[OgRe1985]

Open Market 173 buying 174 selling

[vtecyo]

are we seeing dollar rate to be around 180 by the year end?

[vtecyo]

should i move my savings abroad where my family lives?because this currency keeps on devaluing.

[Xulfiqar]

It always has been like this - you dont need graphing or a pie chart, just review the transactions starting from general groceries all the way to dining out to luxury clothing.

In times of inflation all these shrink out and only basic groceries and toiletries remain as priority. Not even an iota of difference has been seen anywhere in Pakistan, infact with this decrease of value people are buying even more to one up their neighbors and relatives.

Ask any general common dude - they wont ever complain that cigarettes have become expensive.

[uzeemujeeb]

this **** currency

sir have some respect
this currency is required to pay your utility bills, school fees and your domestic kitchen expenses. This is what brings daily meal to your table, You earn this &^%& against your hard work.

Mod Edit

[heterodoxdesi]

yes thats the problem. We earn this sh@t currency against our hard word.

[Moderator]

[malik593-1]

because he has no other option if i had the option i won't give a damn either to this currency

[Nabs]

Dollar continues to rise, reaches record high of Rs173.50 in interbank trade ~ DAWN

[capsat]

am on toes i rcvd the copy of AWB on 19th evening, But original documents are on way to Bank via DHL. If it reaches bank / retired Friday banking time am safe. Else the banker already advised me the threshold mark is 180 after 20th.

ref #658 above

[chameleons]

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.

My bank doesn't have this facility. Can you tell me which bank offers this facility?

[Xulfiqar]

This is not a service offered but done at goodwill to select good customers of the bank.

As I asked before. Do you have a good standing relationship with your banker?

[capsat]

My bank doesn't have this facility. Can you tell me which bank offers this facility?

officially no bank does that.

It is un-documented customer relationship (read courtesy service)

a friends mother had US$ 3000 in 1996 series 100' bills , last year when it was 158, money changers were offering exchange rate of 140 for 1996 series crisp new bills. I took her along to my bank, and after tea & cookies in 35 minutes all were changed at ongoing rate. Bank guy called up money changer at his place.

[OgRe1985]

In Lahore many money changer offer the services to collect $$ from you in Bank and deliver cash there.

[Nabs]

It was Bank Alfalah, but it was more than 5 years ago. I don't encash my dollar savings anymore.

[chameleons]

is this an official bank offered service or just courtesy like others have mentioned?

[Nabs]

I don't know, they never called any money changer for me. Everything was done in bank.

[Nabs]

Crude oil now at $84. Expect more petrol price hike next month.

[khurem]

"Exchange rate depreciation has benefitted overseas Pakistanis", says SBP Governor.

https://www.dawn.com/news/1653192/exchange-rate-depreciation-has-benefitted-overseas-pakistanis-says-sbp-governor

So when the Governor of a country's central bank start going around telling people the 'benefits' of local currency depreciation, you can very well expect that the currency rate is out of their control. A ridiculous statement coming from SBP Governor to say the least that would only lead to further Rupee depreciation.