Will Rupee Devalue Further? Economic roller coaster

pwuser150469741418 (Abdul Rehman) 2022-06-21 17:40:36 +0500 #996

The forecast/news is that despite the deal the situation isn't going to improve. The RDA inflows have reduced and if it remains the same we will again have to beg. Also expect remittances to slow down because of the uncertainty.

mgalaxy3 (MGalaxy Z) 2022-06-21 18:32:06 +0500 #997

What to do with rupee savings in current scenario?

Any members can share ideas.

Buying $$ now at such high prices also doesn’t make sense.

So, what to do with Rs savings in bank . So it doesn’t depreciate further .

Even with property people are saying the bubble will burst .

noobie (noobie) 2022-06-21 19:01:22 +0500 #998

Just buy TBills. Yields are really good (approximately 15%) right now for 3, 6 and 9 months.

OgRe1985 (OgRe1985) 2022-06-21 19:02:18 +0500 #999

For property- buy apartment or some commercial shop. Dont buy a plot.
You can also buy Gold.

HellsGuardian 2022-06-21 20:14:47 +0500 #1001

Can you please share details?

HellsGuardian 2022-06-21 20:15:33 +0500 #1002

SBP says otherwise.

mgalaxy3 (MGalaxy Z) 2022-06-21 20:52:04 +0500 #1003

Looking for some non interest based options

abacus (Ahmad) 2022-06-21 22:13:52 +0500 #1004

Can anyone guide how to buy T-Bills ?

noobie (noobie) 2022-06-21 22:19:16 +0500 #1005

You can buy TBills through your bank. Contact your bank's branch manager and he/she should be able to have an IPS account created for you.

https://www.finance.gov.pk/publications/MTB_Guide.pdf

pwuser150469741418 (Abdul Rehman) 2022-06-22 10:16:31 +0500 #1006

Weird because I saw a news past month they have falter.

HellsGuardian 2022-06-22 10:16:56 +0500 #1007

It seems T-bills are purely interest based. Personally I don't invest money in interest based schemes but if someone is okay with it then it seems T-bills have slightly higher ROI than Saving certificates. Is there any risk involved in T-bills?

HellsGuardian 2022-06-22 10:18:07 +0500 #1008

There is a lot of misinformation which only creates panic and makes matters worse. There was news of banks not having reserves to for import payments, SBP also rejected that.
Not saying that things are looking great, I know its short term but such false news only do more harm.

pwuser150469741418 (Abdul Rehman) 2022-06-22 14:29:12 +0500 #1009

Could be but there is no doubt the current lot has ruled the country earlier and left us at the brink of default hence despite the IMF deal done today these thugs are not going to bring any positive hence the uncertainty. I dollars I earned or have as saving were at 170 and are now at 211 but despite seeing the gains I am not withdrawing again in a few weeks or months rupee will depreciate.

abacus (Ahmad) 2022-06-22 16:16:27 +0500 #1010

Unfortunately in Pakistan, politics is also became like a sect now. Followers of each sect believe that if their favorite corrupt is not the ruler then they damn care if country destroyed over night. none of so called "leaders" right now is worried about country, they just want to grab their "Hadi" from the opponent mouth.

Nabs (Nabs) 2022-06-22 18:27:58 +0500 #1011

So after IMF deal news, dollar dropped to 209, but jumped right back to 212 by closing time.

pwuser150469741418 (Abdul Rehman) 2022-06-23 07:22:04 +0500 #1012

Looks like SBP is spreading misinformation?

pwuser150469741418 (Abdul Rehman) 2022-06-23 07:23:51 +0500 #1013

Unfortunately people are so naive here that they want to believe everything they are fed with by their favorite politicians. Only if they keep their eyes wide open and kept questioning we wouldn't have been here.

HellsGuardian 2022-06-23 10:20:42 +0500 #1014

I wouldn't say SBP is spreading misinformation. SBP clearly used the word total deposits. Why would anybody assume total deposits is equal to balance in RDA accounts? I think SBP is doing good job to refute all fake news that are trying to create panic.
Again I am not saying suddenly everything is great but lets try to dig in a bit before believing and spreading false information.

On the bright side, PKR has recovered Rs2 as we speak on inter bank and in open market, there's around Rs5 recovery.. Chinese have also signed $2.3b agreement.

pwuser150469741418 (Abdul Rehman) 2022-06-23 11:03:19 +0500 #1015

Because it gives a clarity as to how much they have after the current regime change fiasco and the amount people of Pakistan have withdrawn. Also I think the hike could be because it's Eid.

Chinese agreement on what rates has to be the real question. Again we were fed with Saudia has agreed to give us bla bla bla loan which was again a misinformation from the government so yes, let's keep our eyes open because we have been through these routes before and was about to default back in 2018.

OgRe1985 (OgRe1985) 2022-06-23 11:14:13 +0500 #1016

Sir things will get better eventually because we dont have any other option. Dollar already down to 207 from 212 in inter bank.It will eventually come down to 195 to 200 range or even less.