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Dollar at 78 to 79 in Open Market,

(49187)
   Habib
Tuesday, November 11, 2008 09:26 AM 
Reply: >
Dollar is touching 78,79 in open Market on the other hand official rate is 80.5, Few days Back when it was Short, open rate was 84 but People have bought it as high as 88 in Black market, So many speculators have again lost about 12 to 14% in few days. I think at 76 to 78 Dollar will stablize. As Govt is not very much interested in bringing it further down. as it will not be good for Exports and Strong Rupee will cause Trade deficit.
Rehman- Qatar replied on Tuesday, November 11, 2008 09:38 AM 

I tend to agree with u. I think , it will stabilize around 80. Though, I still believe that in six months time, it would be around 83-84. As i foresee riasing discount rate, reduced export and low FDI in Paksitan.

Million dollar question is that when the PAKISTAN will realize to cut the expenditure. Cut your coat accortding to cloth is the solution of this problem. If we continue to have a huge cabinet and our rulers , politicians, bureaucrary, judiciary and army keep on living like a king then we, the PEOPLE, will continue to live like slaves.
Rehmat ali replied on Tuesday, November 11, 2008 11:23 AM 

I think it will go to as low as 70, provided Government is serious and honest. if the action taken against Kalia and other groups playing games with Dollar smuggling etc, is not biased and done honestly to book all culpirts, you will see change. Of course we need to build confidence in Pakistani working abraod and sending money as well Government policies towards our economic development and financial soundness.

Also encourage people to develop and make business in pakistan by returing with wealth back to Pakistan. Not to mention billions taken out by our politicians like Zardari, Sharif, Chaudhrys which if returned back to pakistan, will be biggest services done to their people. Our politician??????

Regards.
ali11 replied on Tuesday, November 11, 2008 01:03 PM 

CMY sahib was suggesting in his earlier posts that it will touch touch Rs.100/- Would love to hear from him now!!
arsu replied on Tuesday, November 11, 2008 03:34 PM 

It's absolutely a negative attitude that we have developed.We feel pleasure in making someone look small.Its all about speculations.Nobody for sure can say anything in this game.Even today if people talk about the dollar's stability at around 80, they are just making wild guesses, they don't have a yard stick to measure how freely it will float.Today world faces the worst economic recession about which nobody ever speculated or predicted.Top economists of the world are not in a position to tell its implications and how long will it take to bring the world's economy back to tracks.Today America's trade deficit touches trillions and people keep speculating that dollar will soon be stronger.In the West, discussions are hot about the alternate financial systems with less vulnerability which will not make the world economy fall like card house.
alpha replied on Tuesday, November 11, 2008 05:25 PM 

AoA
Neither I am an economist nor a soothsayer. However, I do know, that the US will have to print more dollars for all the bail-outs and increased government spending. Which would lead to decrease in dollar value. However, thanks to the trade deficit, surrogate economies to the US will also suffer.
regards
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