Mafia is in full action...RIP

Keep "all-time high" copied, you will need it daily now

Where is the looted money? Why so much leniency on the Corruption Mafias? The more powerful sources also known as the "System" were very quick at demolishing the real stakeholders of Urban Sindh. Why same efficiency is not shown while dealing with others. Why special privileges for some so called elite class? Sorry state of affairs.

Tomorrow it will be 150, the next day 151 and soon 200. Adding more problems to middle-class, their wages and daily earnings will not increase but consumables, fuel, interest rates, loans, medicines will be more expensive. Oil prices are rising with US and Iran conflict. Trade war between US and China will have effect on all economies.

The meeting of PM with the money changers gave them more fuel to speculate. The PM does not know the history of currency dealers in Pakistan. They never are patriotic. Ask State Bank and the FIA, how many of these dealers have been raided on how many occasions. Unless and until, the Gov't decides to MANAGE the currency, we should see huge fluctuations of rupee. This will result in more economic chaos.

Govt is helpless. IK government is only talk, no ideas or vision. Has he ever mentioned a roadmap other than slogan of Naya Pakistan and Looted Money.

How does he intend to get the "looted money" back. Has the government contacted Swiss government and Swiss banks for info on accounts? What was their response. Going by past history, Swiss banks do not cooperate unless you show "actionable evidence" against their clients considering their whole banking system is build to the guarantee of confidentiality.

Easy to talk about bringing back money but almost impossible to do so. All he can do is sell some buffaloes

hope that the exchange rate will stabilise with the passage of time.we should not panic.

A clear failure by the government.

No writ of the government can be seen. anywhere. PTI govt is clueless. No consistent policies. Tabdeeli has shattered all the hopes.

Quickly reaching rupees 200 round figure. No problem for us though because we survive on loans. Getting loans are our ultimate achievement.

I am so frustrated with this government. Poor performance on all fronts!

Even our stock exchange is taking a bashing. Today It has lost 700 points already. Dark days ahead.

It will be 160 before Eid

This is the CHANGE people "voted" for. Thanks PTI.

@Shib, Imran Khan and MQM mafia.

This is what happens when IMF conditions are accepted to get a bailout. Don't forget dollar depreciation also drops the GDP size,Raises the total amount of debt(both of which are calculated in dollars) and causes hyper inflation(due to necessary imports such as crude oil that is also calculated in dollars).

At `150 IK should resign.

Brace for more upto 200

it would touch 180 soon.

So much for the meeting between the currency dealers and the pm.

Gifts of Naya Pakistan, where dollars and inflation price increase on rapid pace, while no increase in exports at all.

PTI government is a failure in all department.

Where is the government? There is financial chaos everywhere

And on the very day PMIK himself makes a committee to stop exactly this from happening. The fact is demand is high and supply is low. The market in such a situation is difficult to control cutting demand is the only option as the supply of dollars is unlikely to go up with no exports and lesser visas in future to Pakistanis affecting remittances.

Feeling bad for students in foregin, their parents have to pay lot extra now. Hopefully they don't have to come back.

This IMF deal is going to have huge impact on price inflation

IMF is not pushing for the devaluation as being portrayed. They are just asking the Government to allow the PKR to settle according to free market rate

One of main reasons Pakistan's huge trade deficit. Besides Pakistans's low GDP growth for many years. BD Taka very stable, 84 Taka = one dollar. BD GDP continues to be 7% to 8%.

Recently CM Punjab doubles the incentives and benefits for all Punjab government employees, so they got safeguard against this rising inflation which cause by dollar, but what about us whom worked in private sector, is this what we pay tax for so in hard time all burden come to us only, even include the burden of their lavish life style.

Naya Pakistan is proving to be worst nightmare

It’s 150!! Just called exchange to buy some for enduse.. very sad state of affairs. All thanks to PMLN

It’ll stabilise around 170 IF their is no more economic and security surprises.

“Fears of further devaluation as a result of the agreement with the IMF have depressed the currency market and the rupee may lose more against the greenback in the coming days,”

Its a green signal brothers and sisters, its time to convert all equity in to dollar.

@Shib, it is called market

Next target is 151.3 rupee

it will hit 250 by dec. 2020

This Government has to go if we want to save Pakistan and fresh elections are needed

Pti's incompetence really showing now. This will hurt the poor the most. So much for ehsas and riasat e medina.

''Up, Up, and Away!''.

@Shib, You mean Imran and PTI .....

Why don't people questions PTI actions or rather inactions and how long he will cry and pass blame on Nawaz Sharif

Better for exports of Pakistan. This would help to reduce the deficit

Feel sad

In all honesty, this is not such a bad thing for an economy that is in crisis. It automatically forces the country to tighten its belts. Even if it goes to 200, it is all still under control. The real problem will arise if there is a sudden shock. Eg. hyperinflation (>100% inflation) or if the rupee just goes to 1000 both of which seem unlikely at this point with IMF support.

This govt has no control.

What a game damaging poor people and nation being played by PM. What he promised and doing quite opposite. Instead of recovering looted wealth providing better support. When in Jail they are released with welcome back procession.this Pm is sitting breaking ground another drama. Shame Shane.

Why are we so much dependent on greenback money?

There is difference in CRICKET and Govt, Hope we get Our lessons.

This GOV is running here & there like an headless chicken,

While PTI Govt is not doing ideal job, the blame goes back to last 15 years of economic mess of loans, subsidies, corruption.

@CHETAN VYAS,
Can you shutup Your comments are not needed. Lets not criticize or laugh. We can also be in the same situation

Pakistan's economy is in a terrible way and the government cannot control this currency slide at all now. They should all resign immediately.

@Majnu786, do you mean dollar appreciation or depreciation?

IK looks like a marble player playing cricket for the first time: its a different ball game

Wait for CPEC to be completed. It will be 150 dollars for 1 Pakistani rupee.

In 2007 when rate was [i think] PKR 66/USD i did a fundamentals analysis and determined that the rate should [have been] PKR 12/USD. The longer you ‘mess with reality’ the deeper the correction. The REAL culprits were the ones who stole money then and converted to USD - exchange mafia etc -

There needs to be a DEEP review of all wealth vs tax filings; any discrepancy leads to confiscation, with burden of proof on the taxpayer.

One US$ will reduce to Rs120 in the next 18months.Pakistan basic economy is strong due to Agriculture,Natural resources and manpower.Now the honest top leadership is there,the economy will strengthen and all corrupts playing against the current government will fail.The general public must not fall in the trap of corrupts.

unless any action is taken by IK

In my view, corrupt politicians and greedy businessmen are behind this dollar rise thorough their cronies and fake news. Because, we don't have laws that can punish such greedy people who initiate such speculations - this is courtesy of AAZ, NN, SS and their family members, who are controlling the money mafia.

Friends give him time. He does not have a magic wand to cure all economic problems in just one year! You have elected him for 5 years and judge him after 5 years.

Everyone jumping to conclusion here. Remember initial assessment was that Pakistan need around 12 billion dollors to support balance of payments. With IK this was reduced to half no one is giving credit for that. Also imagine if we needed 12 billion dollars how tough conditions would be. We cannot run a small house the way NS and Zardari run this country. They made us bankrupt. If people want to bring them back they are welcome .

Funny and Sad that no one mentions about the Selectors of this Selected Government.

Its very good opportunity for Export of goods and services from Pakistan. It will bring valuable foreign exchange for the country. Pakistani expats should be encouraged to send more money to home country. I am sure you Govt is already doing it.

I remember when Pakistani rupee was stronger than Indian rupee.

Cpec completion will solve all economic problem. Wait

What happened to Pakistan? The "elites" ate it...all of it.

I knows only 1 INR = 2.1 PKR....

@SM, There is no looted money. It was all an eyewash.

@Ahmed40, and bring back the corrupt Pml and ppp. No thanks

@Mumbai_Man, We have already been in the situation before in 1991. But Indian policymakers corrected course & the pain we endured back then was limited. I'm happy with the way things are panning out.

In India Forex and rates are determined by RBI/ central bank of India, and exchangers need to follow that rate. however in Pakistan i am shocked to find this is run by exchange houses, which are not organised.

Heading towards Double Century

Imran Khan is just like modi all talks no action.

@Humble , because almost everything in pakistan is imported and payment needs to be done in USD

Internal mafia's harming Pakistan. The intelligence services should find out who is behind all this to destabilise the country.

What a great, gruesome, gigantic and grave tragedy?

I was a fan of IK but had no idea of his incompetency at such height. Usually conscientious rulers resign at this plight of economy, but Pakistan is an exemption.

@Amir Khan, because IK has already taken more than 10 billion in credit and cash from other nations already. Totals more than what was required.

This is how the 'Free Market' works.

What happened to the oil reserves that were supposed to be found a month ago. Last month IK said they have almost found them and in 2 weeks there will be big announcement.

Propaganda onTV talk shows and mafia playing the stock market internal enemies because they do not want restructuring they want corruption as usual.

$ 38 Billion X Rs.150 / 19.7 Crore Pakistani's = Rs.29000 deficit budget per person . Am I actually talking sense ? Where from did we develop such a load on our children ? Do we want them to keep cursing us even before we are gone ?

I thought Pakistanis were brave and wanted to fight and defeat the mafias. When the going gets tough fight harder to succeed and bring the country into the 21 century. The government should find out which mafia is behind this concerted destabilisation.

Cannot understand what the Imran Khan supporters are fighting about now. He was made the PM, is sitting comfortable and has neither the team nor the competence. The continued ranting against media and aggression against patriotic Pakistanis who are worried about where we are heading will get the Imran Khan supporters nowhere. Better to put pressure on their leader and make him acknowledge the disastrous situation by listening and mingling with common people instead of the elite only - bureaucrats, businessmen and feudals

@Sabir, Punjab Pakistan , Imran Khan is just like modi all talks no action."

One us dollar is equal to 70 Indian rupees!

Where are you? Now it's time to change. Before its too late .

@Sweets, you sound like indian

@F35, why not at 148?

@Amir Khan, We cannot run a small house the way NS and Zardari run this country. "

Please tell this to yourself when you go out to buy food, medicines, etc.... Hope you will be mentally relaxed by this....

This is pure manipulation to defame the current government... never heard of same rupee fall even when the situation was worse then the current.

What is the rate in the black market where tax evaders will be converting in a flight to safety ? I think the Rupee will fall and stabilize around 200 in Naya Pakistan. It looks like a government of the elites, by the elites and for the elites.

@Jeetesh Dash, I think you forgot to add one more zero...

Two more runs required for IK to score 150 not out.

@aisha, Very simple. The opposition and the looters who are bent upon ruining the economy to come in power again to continue with their corrupt practices. It is very hard to digest that IMF agreement is only responsible for the decline as in Pakistan all big businessmen are dollar hoarders and working closely with money changers.

Naya Pakistan where nothing is in control

Demonetize is the answer

The IK and the PTI government cannot fix the volatile rupee by holding meetings with the traders, they need to stalize the economy first.

Just wait for few weeks, you will get amazing price for dollar in Pakistan.....good days coming soon for pakistanis with dollars in naya Pakistan.

Economic hit men at work

Anybody surprised? Not me....

Poor fiscal management

@F35, Why? All those complaining should step up to the plate and show they can do better. Don't be a backseat driver.

Investor confidence has been shaken. Allowing the market to determine the rate as demanded will bring out the speculators. The Central Bank must intervene to keep the rate steady.

@Sab Se Pehle Pakistan, The 'System' is completely failed but it insists it works and better than any system yet. No system to daunt the current system.

@AG, This is exactly my point you cannot keep spending beyond your means.

@Kashif Sekha, Recovering looted wealth is not easy or pays well. UK and India have learnt that.

1 US$ = 84 Bangladesh Taka.

Where is "All Weather Friend" ??

But we have CPEC?

At the moment 1USD = 141.298 Rs

Great job Imran Khan !

Im a trader by Monday market opens up at 165 ,buy as much u can

very high inflation is waiting ahead for common man.... PM IK doesn't understands economics...his decisions has destroyed Pakistan's economy

what a flop this government has been. the only thing they have got is NS and Zardari corruption.

I have converted 90% of my PKR to USD already. No trust in the system

@Govind_Indian, "Better for exports of Pakistan." Their exports bring no foreign exchange.

I pity the parents of Pakistani kids studying in US Universities.

Better to buy lots of dollars for future.

It Seems that incumbent government has no plan to steer Pakistan From this economic cauldron. After having Deal with IMF pakistani Rupee will further depreciate against the American dollar, It could hit 180 or 190 mark in next 2 to 3 years.

@Aslam , When? Today is half of INR

Bros...Be prepared for tough times. Interest rates will rise, Inflation will rise, External Debt repayment will push the dollar rate more. Imran might want to consult MMS for advise. It could also lead to social unrest

My sympathies to fellow Pakistanis for the situation. The problem is built over decades and takes at least another decade to bring it to normal if right policies adopted now. IK need support from general public. I notice that these is no competent team (think tank) in Pakistani Government who understand economy and steer it in right direction.

it will be 150 and will settle there

@Waseem, Probably it is a conspiracy hatched my Nawaz, Zardari, Mariam and Dar to defame the best government Pakistan ever had.

IK is living in a fool's paradise. He has no idea how to manage the economy or govern the country. This guy will take Pakistan 25 years back in terms of the economic conditions of the average Pakistanis.

Why Pakistan not consider it is opportunity for increase exports

This history will be changed many times so how many times this news heading will be published?

Anybody contemplating a unique conspiracy theory?

So with increase in the value of $, the actual amount of loans received in dollars goes down, but the amount to be returned including interest and principle goes up ! And IMF has not as yet approved the 6BN $ loan as yet

really bad move

@Fair-Point He has already taken Pakistan back by 25yrs.Most of the foreign investment in stock market has been taken out and index came crashing down from 55000 to 34000 points.This is a loss of over a trillion rupees to national economy. Some yahoos are still beating the drum of corruption .It’s silly!

Hope Pakistan makes pop corns and does not import them. Otherwise watching this great entertainment show will lack the pleasure of pop corn. I’m loving it. Inflation here is 3 per cent and pop corn doesn’t seem to be on that list.

He's (Imran Khan) got the whole world in his hand. He got the whole world in his hand. PTI will self destruct

We need to stop the daily currency movements to an extent as done successfully by our neighbors. The idea of a free float currency is good for certain countries but largely inappropriate in Pakistan . We cannot become Sweden overnight by following their economic policy . We need a mix of social , free market and build an economic model that suits a largely agrarian and limited industrial base . The Bangladesh model of micro finance and the Indian model of land reform and the Chinese model of continuous growth combined with the western models of knowledge based export will take its own form . We need consistency in our policy and no party should be blamed or get credit for the economic situation as that is the root of all our policy evils .

See the rising graph??? What are Imran bashers complaining about?

@GH, "Why Pakistan not consider it is opportunity for increase exports"

At the moment Pakistan is only exporting "trained individuals".

@Hamza , "very high inflation is waiting ahead for common man.... PM IK doesn't understands economics...his decisions has destroyed Pakistan's economy"

Hey but he is/was handsome.

This should cease to be news anymore !

@ISHIKA, who taught you maths ?

How long you going to blame the previous government for making people poorer day by day.

If IK wants lower dollar value against PK, the he should stop dollar flight from Pakkistan. Stop open purchase of foreign currency in open market.

Team IK...the GIGO effect continues!

@Aslam , yes put it to your memory.

A leader must lead his people when they are in despair

@shan, should have elected an educated leader

Good for overseas Pakistani people and their family in Pakistan.Everyone knew this going to happen. Lot of people dealing in either Dihram or Dollar in Pakistan.

1 usd= 200 is coming soon.

World's Best All-Rounder: 10 Reverse Swing Decisions in 1st year. Century ($100B) on International Debut. Soon followed by a Double Century (200 PKR/USD) record Domestic Score.

@Truth, No exchange rate is not determined by RBI and banks in India but by demand and supply. If there is speculation resulting in big variations RBI uses its huge reserves and asks banks to intervene to stabilise.

@CHETAN VYAS, " it will hit 250 by dec. 2020". You are too optimistic. It will hit 350 by the end of this year.

I think now Imran Khan forget that how much external debt increases with the devaluation of rupee against dollar.

really nightmare

I think, PMIK wants to take us to 1992 when he won world cup and brought glory, then he will start delivering and play like slog overs and make world champions again, like world best country to do business, best education, world class sports facilities, all good things.

@Jatin, "Where is "All Weather Friend" ??" All Weather friend is smiling. They will get more in return for the CPEC loan.

Previously people used to blame Nawaz and now army backed Imran Khan govt is there no one can question IMF loan or rupee depreciation or other chinese loans and its conditions. Its just a matter of time when rupee will be at 200 against dollar and all the commodities will get so expensive that middle class people will find hard to manage and BPL will rise from current 30% to 50%. But listen no one can question Imran as it is naya pakistan

Naya Pakistan Naya rate for dollar.!!

pakistan should change its currency to Chinese yuan, that way it will be more immune to market fluctuations.

I believe IK government is following the right course. You cannot expect magic from a 10 month old govt. It will take time to improve. There is no gain without pain. Wait and let the govt. work for 5 years. If my fellow countrymen have tolerated big corruption and mismanagement of last 30 years, just accept a little more pain, and play your own honest role. Why everyone blames IK? what wrong has he done? He is working day and night to solve this massive economy problem. If you cannot support him, at least don't condemn him. Let him work.

@Swams, this is the mindset that makes dollar more expensive. Instead of hording, reduce reliance on it.

Naya Pak comes with New Dollar rate every Naya Day... we should learn thing or two from India instead of always fighting with them.

@Jamil, who is going to finance "No panic", and until when.

It should reach 160 by end of this month as per IMF conditions.

@Aslam , That must have been a long time ago. Today Indian Rupee is trading at 70 rupee against USD.

Hmm.....wonder what is India doing right that Pakistan is not doing ?

@Sweets, Yes, this is what the trend looks like.

There is a saying "things get worse before it gets better" don't lose hope. Two things are slowly but steadily shaping up. CPEC and huge oil discovery offshore. First will bring in investments and jobs in long run, second one will save precious money from going out. Trust yourself and hold on to the hope as light is clearly visible at the end of the tunnel. Any one in the govt in current situation would have done the same, no point blaming the current govt, they are trying there best.

@F35, Give him his full 5 year term to deliver as that is what he was elected for. Cant fix everything in 1 year.

If situations will be like this for another 3 months , the borrowed money from IMF will be evaporated in no time.

Nawaz was corrupt BUT at least somehow kept Pakistani economy floating but IK is simply incapable to govern ! I see dollar will be 200 rs by end of the year !

Dire state of economy, time for change overall policy. As soon as the Indian election results are out, make peace with India and open the borders for trade and transit route to central Asia bya Afghanistan. Best thing can happen to the region and Pakistan,s economy woes gets a respite.

When a person who has no administrative experience of any organization can’t run a province or City became PM of broken country this is bound to happen. PMIK lost all credibility for common citizens of Pakistan as he can’t contain inflation. All promises regarding Naya Pakistan are going in to drain within first year. Rahul Gandhi May be better than him as Pakistan PM. He has scheme called NYAY Rs. 72000 as minimum wage for a family, which is similar to IK Naya.

Time to replace Rupee by Chinese Yuan and gradually accede to China within IK's five years, 72 Years of not so glorious history can be pushed to oblivion in no time, a win-win for both.

@Asif, Yes, Ramadan has brought lot of gifts for poor, keep fasting till you fall.

But Pakistan has two two "game changers" why is it worried. CPEC the old one and then the new one announced by none other than PMIK himself. The "soon to be" found (huge amounts of) Oil and Gas. I mean why are the markets and rupee so shaky and nervous. Don't they trust their PMIK that "soon to be" found Oil and Gas will be found "soon"?

We have billions out there in stolen wealth where is it? Because the same people who stole are opposing pti while criticising our economy so pm Khan needs to pull a fast wicket out of the bag.

@anonymous, Great for China. They will reap in more rupees servicing their interest on loans.

its going to be always historical high since the rate has never come down

Maulvis can't dictate economy. Fair value of 1$ is about RS 161 as per market rate. Exports will flourish due to it.

+Whether u win or lose a match there is always a press conference. This Govt is soooo silent, it appears itself lost.

70 Indian Rupees is equal to one dollar. One Indian Rupee is equal to 2.1 Pakistan rupees. So the actual value seems to be more or less correct.

I will invest in Pakistan only when the price touches 200/-...period.

@Careless Whispers , Here the issue is a Balance of Payments crisis. The total amount of funds required by Pakistan (Traders, Importers Less Exports, Tourists etc) is less than the funds in the current account. Hence there is a large deficit. Usually this deficit would be plugged by Capital Account/Financial Account by way of selling assets (Pakistani assets). Capital account is monitored alongwith the current account by IMF. It is very highly probable, and we can only speculate here, that capital account would show a high amount of sale of assets to purchase/borrow the US$. This is exactly what IMF is going to do. Lend us US$ to fund our capital account. Until then the exchange rates will truly reflect the market prices. It is useless to try to somehow stop that changes. PTI is trying to change the current account deficit, e.g. reducing purchase of US$. If the reducing the current account deficit status was so easy, then we would not have gone back to IMF.

All the trolls of PTI are hiding in their holes.

Another somalia in making

Who fixes the exchange rate for the bogus and fraudulent paper currency? Use of e-money is the height of scam monetary system to enslave mankind.

IK setup a committee . Now everyone can rest easy.

We are hitting highs everyday. "low" is not in IK's dictionary.

@IndoPak, What was wrong with what I said. Calculate the loan amount in $ and then convert it in to PKR per new rates. If you took $1 when PKR was 100 and now have to return the same at 148 Plus Interest. How much do you end up paying? Instead of paying back 100PKR +interest now you will pay 148+interest. Sir where did YOU study maths?

@Khan, thanks to PTI. Don't blame past unnecessarily

Cancel all 5000 rupees notes. Billions of corruption money is circulating to buy any dollars in market. Very simple...

CPEC will change the fate, wait Soon dollar will come to 50

When you actually address your economy this will happen, no pain no gain.

@Aslam , corner plots?

@Saleem, "CPEC will change the fate, wait Soon dollar will come to 50"

wake up...you are dreaming!!!

Pakistan's unhealthy obsession and conflict with India comes at a heavy cost.. Pakistan's economy will boom if it has good relations with India and all it's neighbors..It has to decide whether it wants perpetual war with India and economic catastrophe or a peaceful coexistence with bilateral trade..

Economy is not an issue at all, mercenary is what should be of utmost importance

Grapevine info - PKR set to reach 200.

Pulwamas long term impact on economy .

@Govind_Indian, Devaluation does help in exports given there is a export market where monopoly is held by Pakistan. Moreover any guess who is the largest partner for Pakistani exports? It's US and they will benefit from cheaper Pakistani goods not the other way around.

The ball has been set to roll by the govt.’s failure to let the lid off on the agreed term of agree to concluded last week.The financial market already rife with all kinds of speculations is reacting inexected jitteriness & in constant turmoil. Learning a lesson from what happened post 2015, when Egypt under the stewardship of our new GSBP, opted for fulfillment of term of IMF $12B loan. The Egyptian pound lost its value by 50p.c, inflation skyrocketing, poverty becoming crippling with govt subsidies gone, is similar nightmare, in the making in Pakistan.

Notwithstanding, govt.’s latest effort to contain fast ongoing devaluation of PKR, our economic managers may be aware of the fact that free float of currency is at the mercy of market forces & to control its downslide can only control through massive injection of dollars which is not the case. Therefore, in the days to come further devaluation is likely to happen till the PKR finds its true value commensurate with the market direction

@Akkad Durrani Engineer USA, it’s interesting you bring up case study of Egypt. Any guess who was the IMF advisor for Egypt when it went almost bankrupt? No other than your own ‘new financial advisor’ to PMIK.

The export industry in Pakistan has not been taken care of. Name something that the world extremely desires and Pakistan being the only country able to produce that item ?

@Aby, Theoretically yes. But with increase in electricity, salary of employees to adjust with rising inflation, production cost will also increase. So, eventually export cannot benefit from devalued rupee. Note that we have limited export items and unless the government would look for new markets, export does not hold that much of future. We also import a lot more than exports. See today's article on export and import under various governments since early 2000. Eventually, we will be a big loser.

When you agree for free float of your currency according to market sources, demand and supply forces determine the rate. The supply is generally known but demand is unknown. It will take a lot of time to stabilize the exchange rate market. Till then, rupee will continue to fall.

Within a month it is expected to reach 240.

@Vikas, Yes, the oil is getting formed upon the fossilization of people perishing due to Imran Khan's policies now. It will be found 'soon'.

But there is a silver lining. High rupee price will reduce the unnecessary imports and Thus minimize the trade balance. No?

@Zulm, you pointed a serious thing, every pakistani must have understood.

Go Nawaz Go. 1000 times daily: Morning, Afternoon, Evening. On the roof of container. All isses will be resolved very soon. Naya Pakistan is Visible Now.

Brace yourselves: there is going to be a "new historical low" for the Pakistani rupee every day for the next 6 months. The dollar is getting stronger against all currencies, and that will only exacerbate the fall of the PKR.

@A shah, Is this a CRUEL joke?

Running a country is not a cricket game. We need to have some experience as a CM or a minister to know how politics is played. Why can’t India and Pakistan do business in rupees for essential items then who cares dollars. Pakistan has the potential hopefully it will be in right path soon.

Good news it means the rate is not being kept down artificially by the government. When we finally begin to payoff debt then this was bound to happen in the short term. In other words right now is a great time to invest in Pakistan and take advantage of the weak ruppee.

170 by year end and 200 by the end of next year.

IK what a disappoint you have been. Never imagined that you are only talk no action, IK you are good only in talking ,you are really incompetent ,NS was much much better than you now i repent wasted my vote want old Pakistan back

@Majnu786, Not always true. In the past one year the rupee devalued by almost 45% (from about 100 to 145) while the Indian rupee did not change much and today stands at 69. We did not take advantage of that. Our exports still are below 25 billion while India exports grew up by 10% year to year. On top of that we also have GSP+ status from European Union while India does not. Even then we could not compete with India. Problem is we have severe shortage of power and gas and our manufacturing is not competitive. We do not have money to spend on infrastructure development as most of our budget is allocated to the unmentionable department. Another thing is because of inflation our production costs of goods tend to be higer eating into the advantage we get from devaluation of the rupee.

@F35, Why? He is waiting for double century and as he thinks everything in terms of cricket terminology, he thinks it is great.

@Indian, you are absolutely right it was suppose to be worse in the beginning before it will going to get better

@Govind_Indian, yeh but it’s not happening yet do we are getting panic

According to one TV anchor only the MoU has been signed with IMF. I have a feeling they have been told to wait until the FATF ruling to complete the agreement.

@Amir Khan, you are absolutely right

PTI should stop talking in cricket language. "Opening batsman", "googly" etc etc. It is irritating and shows that this government thinks it is all just a game.

@Khaled, you have to pay 65 billion dollar loan taken from china for CPEC also and weak Pakistani rupees would put more pressure on internal exconomy as Pakistani export are more then import .

@Indian, WOW Indo brother wishing well. I love you Indian family, I know there are millions like you in silent majority in both IndoPak, who wishes brothers well.

IndoPak Blood Brothers 4 Life!

This slide is bound to continue. Pakistan was facing a massive crisis of forex for paying import bills. Imports were more than twice the total exports (FY 2018). Getting funds is onething and growth is another. India faced a massive crisis in 1991. Was a closed economy. Opened it up and the amount of FDI and privitization ensured massive inflow of forex. To come out of the crisis Pak needs to either attract a lot of investments or increase exports. There seems to be no well thought out plans in place that would achieve either. Austerity measures/cost cutting has some positives but what the Pak govt really needs to focus on is increasing inflow-income/investments. Also the message we get is that CPEC or the Chinese investments are more in the form of debt. Do Chinese firms own any of the infrastructure? Or hace they been licensed any infra? Eg Tolls for roads and highways made as a part of CPEC. Could be given to Chinese firms for say 10-20 if they are incurring the cost to build it.

Why would PM take action against the corrupt mafia when one exists in his own siblings?

@Zulm, Pakistan is now behind Bangladesh in exports. Very sorry figure. Pak govt needs to boost exports and create an environment that draws FDI. You have hit the bulls eye with your observation. Pak needs to innovate. If Oil is found in the offshore basin then that will be a big relief momentarily and govt should build on that and the money they have got from UAE, KSA and IMF.

The present government has been deceived the most by the overseas Pakistanis. Look at IK's first public addressed, he was over relying on them for "huge" remittances but remittances have in fact gone down since his take over. Though overseas Pakistanis are too "patriots" to be doubted, they have preferred to keep their monies safer in their countries of residences over handing them over to this "unsettled" and "ill-directed" group of politicians, called Government. The overseas Pakistanis could be termed to have acted more 'selfishly', where at one end, they did not support IK's call for $1K funding per person, on the other hand, in general, they even withheld their "official" channel remittances. Where the locals are losing to increasing cost of living for this devaluation, they are gaining on their increased home remittances, mostly through unofficial channels. Second reason for this sudden and unprecedented devaluation is government's failure to raise any significant foreign investment, may be due to investors lack on confidence in the government's policy direction, vision or capabilities. The third reason to hit the dollar-rupee parity is YET to come as no significant repayment is made yet during last 10 months, while the government has already tried to hide its failure under this single reason and factor alone!

@khan , If the government tell IMF, we did borrow money from you, but you will not be dictating or controlling how we manage our economy. You will be paid on time. Foreign travel should be curtailed, students and business trips be viewed differently.

You guys need to increase exports to stay afloat. Or else your PKR will keep on dipping.

@Fair_Point, Not sure why IK is being blamed for this. PM cannot control the exchange rate for long durations. When Pakistani people aren't producing enough export-worthy stuff, no PM can help. Blaming it on the PM is easy. IMO, only thing PMs is a democracy need to do is not be corrupt and not be stupid. IK is smart and honest. He may not be an intellectual or an economist but he has will power. Allow him time. And people need to understand that they are equally responsible and not just politicians.

Very soon by end of year it will be heading toward 200 RS to 1 dollar.