Will Rupee Devalue Further? Economic roller coaster

[xzap042]

Dollar has never gone down in 70+ years of our history. The trend will continue.

[fb2013]

True. But I'm talking about the dip like we had a couple of weeks back where it reached 210.

[crema]

True. But I'm talking about the dip like we had a couple of weeks back where it reached 210.

Just event based instances where rupee gained sharp against USD.
Other wise USD is gaining continuously for the whole year specially in Q2 and Q3 as evident below

The reason is the imbalance of payments and political uncertainty. Country is not producing enough to meet its import bill. The domestic produce is low as there is power shortage and unrest in social acpect.

New businesses do not focus on exports, maximum are food related eateries that just take money from one pocket and hand over to other that too in a same vicinity (restaurant customers and suppliers dewll in same neighborhood.) There are no evident increase in exports. If this situation continues kindly brace to see next year graph with an exponential rise.

There will be some influx of Foriegn Funds by the end of the year due to flood charity but the political condition will act as dampening force rather to give a bump to economy.

[fb2013]

JazakAllah for the detailed reply. I wanted to buy dollars as I might be travelling next year. By the time I travel, I don't want the dollar to reach 280 etc. Was wondering when is the best time to buy?

It will hardly be 5~6k USD

So should I buy now? or wait till end of year (as your highlighted about foreign funding) and then I should buy it?

[crema]

I would only say that a bird in hand is better than 2 in the bush. But for financial matters it is suggested to do further homework and explore further opinions.

If I need I will buy now.

[Nabs]

I had put a hold on a large remittance last month after sudden drop in USD-PKR value. Cleared it a few days ago at 236... and the payment is already devalued by 1.6%

[mgalaxy3]

Is $ even available in the market?

Can’t seem to find for genuine reasons

[capsat]

winter is about to start in europe, energy crisis will hit them hard no gas no heating.
Europe is ready to embrace Tough winters this year because Russia is GAS controller under embargo.

europe will be on knees to dispose their gold to make payment to Russia for GAS , as Rubble is frozen for exchange against US Dollars & other international currencies but YUAN.

Dollar will start to get lump at start of October 2022.

I can safely say hold onto your liquidity as soon as Gold drops to 124000- 125000 in Pakistan buy & hold.

Carefully review GOLD rates in past 45 days it will be easy to project next 21 days.

Dollar against Pak Rupee will drop and level off at 225-230 in last quarter 2022. Unless there is another men made disaster. (GOD FORBID)

[azfarnb]

You’ll never win this race.

[Nabs]

I hope you're right. But we also have to consider fast Fed rate hikes which is one of the main cause of dollar appreciating rapidly against all major currencies. Just today, they increased rate from 2.5% to 3.25%.

[fb2013]

I arranged for my friend around some 10 days back @ 235

3000 USD

[Moderator]

Gold drops to 124000- 125000

for 12 Grams or 10 ?

[salman_w]

same question

[HellsGuardian]

Thanks for your opinion. Gold is much cheaper in international market right now however high dollar rate in Pakistan nullifies that.

[sardarg]

I can safely say hold onto your liquidity as soon as Gold drops to 124000- 125000 in Pakistan buy & hold.

am sure you are referring to 10 gm rates, as usually quoted over business segment of news, so 1 (one) gram is approx Rs. 12400 - 12500
https://www.forex.pk/bullion-rates-gold-xau-pkr.php

[capsat]

yes the digits referred are for 10gms .

[fb2013]

dollar falling. Guess it will go down to Rs.220/USD soon

Buying Selling
232.4 235.15
232.4 235.15

[mgalaxy3]

Can Dar take it to around 140-150.

That’ll be ideal but looks impossible.

All countries intervene to keep their currency a bit strong. Our neighbour has injected billions of $ to keep their rupee from free falling .

[pwuser150469741418]

Looks like the idea is to inject and exhaust the reserves just before the elections and WE will again end up paying the cost of this manipulation like we did in 2018 post dar era. I'd still hold on my USD reserve. Should help once the currency hits the fan.

[salman_w]

Guys my question is a bit out of this topic but does anyone know an authentic source to check daily prices of 24k gold in Punjab/lahore. Also does anyone know the difference between desi gold (i have forgotten the word for the raw brick form of gold) and imported gold? what is the differences in terms of buying and selling? Thanks in advance.