The fun part about this whole situation is ~ even @Xulfiqar doesn't know who I am ?!? Hell ~ we have never met. But, unlike you sir ~ he isn't making any weird assumptions, or is he?!?
@Xulfiqar ~ this situation reminded me of this !! Lmao, check it out
This is epic!
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Neeche nae ana. Upar hi jana he.
Why do you think it will inch up? Shouldn't the rupee be stabilizated for a while?
They have stopped printing money ever since.
As soon as the administrative measures imposed on imports are loosened, industrial activity, consumer and business confidence picks up once the interest rate is brought down and the economy is allowed back into growth mode, we'll begin seeing pressure on PKR.
Still that's may not be very important. The main problem is money printing which they are never gonna stop and there is going to be a supply glut of rupees.
Sooner or later dollar will cross 300+
keep watch over local & international Gold prices. There is serious anomaly in it players can identify that.
FYI State Bank of Pakistan is no longer a Government Treasury, and can not print currency. SBP role is only of a watchdog to monitor inward ~ outward foreign exchange flow to & from Pakistan.
sirs @mgalaxy3 @Massive_One
The chronic problem with Pakistan is imports. Our industries, which have potential for exports, are mostly dependent on import of raw materials and machines.
Local production and value addition is the only way forward.
I am in process of selling some property. The buyer has asked me that he has few thousand dollars and can make part payment in dollars if acceptable to me. Otherwise he will change them to rupees and pay the full amount as pay order. What do you guys suggest. Should I accept part payment in cash dollars and rest as rupees? Keeping dollars will be a good investment or otherwise??
Not bad idea have dollars.
Its pretty good if you don't get scammed with fake bills mixed in with good bills. and have a safe place to store those dollars.
I have a US $ account. I can ask him to deposit the amount in that. Besides, I will have the payment in rupees and dollars clearly reflected in the final sale agreement. I hope there are no restrictions from State Bank on such transactions.
Just an update for benefit of all : state bank doesn't allow any commercial proceeds in foreign currency and the same can't be deposited in personal FC accounts. Same is true for rental proceeds in FC. Any agreement between two parties for payment in FC is also not valid.Based on above I decided to remain clean and get the proceeds in Pak Rupees in the form of Pay Order.
so whats the mechanism for currency print and how does OMO happen?
