Someone is making money now and after a while exchange rate will be restored. Nothing to worry.

The most responsible persons and entity responsible for the rupee fall is non other than the Finance Minister himself. When he dumped his usual cool and burst out uncontrolled after facing the JIT, this was the obvious result. Those who make their money in money matters, know these thing better and decide what to to do.

With pak importing everything and outsourcing everything like keeping cities clean, this is bound to happen.

This is your department Mr. Dar. So it is your responsibility to control such abnormal situation.

Dar should stop lying and blaming other elements for 3% drop in dollar vis a vis Pakistani Rupee. Rupee is not a strong or major currency. Dar should be honest and say the parity rate should be 120 to 130 rupees instead of maintaining it around 104-106 level. The Government fear that they will have to look for extra rupees to repay IMF trenches in case of devaluation plus inflation will go out of control. They will control the rate until after election

Pakistani Ruppee is very over valued. Government should let the ruppee slide in a controlled manner and use it to increase exports and limit imports.

He should block imports for a while and the dollar will die down again

Add to that the fact that dollar is losing value against major currency, which Pakistani currency lost even more value.

@Usman Saqib When imports are more than exports, you need stronger currency. If Pakistan lets its currency slide, it will cause higher inflation.

The depreciation of Pak rupee is inevitable in the long run. An earlier dawn report highlighted the finance minister's iron clad fist on keeping the exchange rate in check despite the pressures of the open market. This is currency manipulation plain and simple and the reasons are political than economical. The finance minister wishes to flaunt a steady exchange rate as the success of their tenure, at the expense of the export economy.

Just brought usd at rate of 110. I am sure I will easily gain 10 percent profit in a month

Can any of these guys ever take responsibility for bad decisions, bad policies, bad budget ?

For Chinese taking over our land also they said the same thing.... that it isn't real. Don't worry. Now for currency losing value also they say the same thing...... that it isn't real. Don't worry. Next these ministers children will settle and enjoy western countries while we suffer here. To that they will say the same thing..... that it isn't real. Don't worry !! About time you guys start telling us the truth !!

Artificial so related word.

Dar Sahib wake up to the ground realities please !

@Sj You are quite right SJ. Trade deficit makes it difficult for the State Bank of Pakistan to maintain the rupee at the level which was was considered 20% too high by the IMF. Devaluation would actually be good for Pakistan's exports. It would also help by reducing imports since they would costlier. It won't hurt people who don;pt consume imported goods. It would hurt those, who want to buy foreign currency for their trips abroad.

@Brijesh Kumar Usman Saqib is right. The way to fight current account deficit is to increase exports, and decrease imports, which can be done only by allowing the rupee to fall in a controlled manner. Devaluation does not affect price of goods and services produced within the country. However, imported goods will be more expensive. Poor people don't use very few imported goods. Oil imports will cost more too, but that can be paid for increased exports, which will bring more foreign currency into the country.

It is good announcement by Finance minister. Had he announced a definite date to complete the inquiry and punishes. Lets hope some result come in the end, in a fortnight

Our exporters instead of improving efficiency and going towards value added exports keep crying like babies in favor of devaluation which has never benefiited exports in the long run. we cannot afford such sudden devatuations as this will move the economy towards dollarization and hyper inflation. And yes we need to curb unnecessary imports through 100 percent cash margins and peranilizing exporters who are holding back export proceeds.

Sir there is something called rapidly expanding trade deficit

As always, playing the role of hapless and helpless victims of conspiracy.

Who will guard these guardians of our national finances? They are all corrupt from top to bottom.

Country with massive debts , hugh unemployment, unbalanced import exports, giving the even basic cleaning contract to other country , in not the devaluation of currency,what else you would expect. The whole responsibility goes to current government.

Apart from other factors mentioned here, the Finance Minister seems to be forgetting that on taking power, he compelled the State Bank to reduce interest rates, so all banks in the country did so. And at the same time, he was also the one responsible for reducing interest/profits on government bonds and income certificates_ as a result, savings plunged drastically and more and more money came into the market, for spending, pushing up inflation and gradually, having a negative effect on the Pak rupees international value. This was bound to happen in time, especially now because again, during the recent Eid el Fitr holidays, the State Bank on the advice of Finance Ministry, pumped in more money in the market to create artificial purchasing power to supposedly 'boost' short term growth. It all adds up. Why can't these idiots take the responsibility for their own blatant mistakes ? All they have managed so far, is only to put more money into the pockets of a few privileged businessmen.

What is he talking about? It's a secret which gets discussed quite frequently about how the government is artificially propping up PKR against the USD. It's the primary reason for declining competitiveness of exporters. Thing is, the PMLN government had an unusually long economic honeymoon with low energy import bills compared to the previous governments. When small pressures are not released in a timely fashion, it creates an earthquake. Same principle is at work in the money markets.

Make your Macro-Economic Foundations Strong. Pakistan Civil Administration can do it as it is not linked directly with foreign policy coming under the military control. Beware of the ever shooting trade deficit and mounting loan liabilities to foreign institutions , especially China. Take advantage of the situations in the region and re-negotiate CPEC terms, to the advantage of PAK. Be pragmatic brothers.