After reading the following article, in my opinion this will have an impact on real estate market, as more overseas would rather decide to keep foreign currency. Plz share u'r views. Thank you.
DAWN NEWS:
The State Bank of Pakistan under the agreement with the International Monetary Fund (IMF) is gradually shifting the load of oil import bill payment to private sector.
Dealers said the import of diesel and furnace oil would bring a demand of about $5 billion from the private sector while the total forex reserves of banks stand at $3.4 billion.
‘There is no doubt that the market will see aggressive dollar buying during the current year and that will escalate the price of the US currency,’ said Atif Ahmed, a currency dealer.
Experts on exchange rate were sure that the rupee would lose against the US currency but were not able to assess the quantum.
‘The depreciation looks imminent but it depends on the inflows of dollars in the local market,’ said a brokerage house researcher.
‘If the oil prices remain constant at the current level and inflows improve then it will have low level effect on exchange rate,’ said the researcher.
However, analysts observed that the exchange rate scenario was not good for the US currency in the global market which means that dollar might lose weight against the international currencies that would have positive impact on the rupee.
Analysts said the recession in the US was still not over while the low oil prices had reduced the dollar demand in the global market which could reduce the dollar valuation in the coming months.
If the remittances remain on the higher side as they were in 2008-09 and inflows from IMF continue, the exchange rate may see stability despite higher dollar buying by the private sector, currency dealers said.
‘The dollar buying will surely involve speculative forces which would create some destabilisation but it could be checked with higher inflows,’ said Atif.
However, it was observed that the country’s reserves had been declining since the first week of July, which is alarming especially when the private sector has gotten a major role in the exchange rate mechanism.
The State Bank had taken charge of paying oil bills in July 2008 to protect the exchange rate from speculative forces which caused serious damage to the value of rupee.
CHACHA replied on Monday, August 3, 2009 06:33 PM
Bahijan kin charoon mai paar gai hoo.... yehan tao bijli bhi nahi aati aapp dollar dollar kar rahai hoo....
daal chanay kee khoo... laasi pio aun lambay hoo kaar soo jaoo garmi main.... $$$$ |
MKS replied on Tuesday, August 4, 2009 09:18 AM
Govt. of Pakistan should send its man power abroad, becuase in last two years millions of Indians have been issued European work and study visa. |
A poor pakistani replied on Tuesday, August 4, 2009 10:25 AM
i would second to MKS.
rather then compaighning on tax on 3rd child,we should try to use our force.
Dr firduse ashiq awan and few others are thinking to impose tax on 3rd child,which actually is childish thinking.
if we see in the world chineeses are thinking to remove the ban on family planning.
in japan there are 65% old group people having age more than 50.
similarly 60% population in Europe is alos in old group.
in these conditions these developed countries need some energetic young force for labor work...which can be provided by us.
we do not think on these lines rather we think and plan opposite.
we should try to train with good skills from college and school level ,so that they can be sent to overseas and can be a fruitful asset of pakistan..
this is one way of reduction of poverty and source of remittences in pakistan.
just we can compare how much india is earning this way.
even i think they are so much earning that they have remittences equal to our budget.....
but for this we have to plan and act inside pakistan and our councelates outside pakistan should alos be very active... |
Hi replied on Tuesday, August 4, 2009 05:32 PM
I agree with poor Pakistani: if we need to grow in better society, we should teach manners and respect of law to our children from as early as kindergarten level.
In Pakistan better persons are from army (soldiers & officers alike)! because they got hooked up in morale training and disciplined life from early life.
otherwise, just walk into any govt. office you will only find corruption and mess. |
