Rupee fallen more then 10% in 2 last months

KARACHI: Governor, State Bank of Pakistan, Dr Shamshad Akhtar Thursday directed the exchange companies to refrain from indulging in speculative activities forthwith.

Talking to the heads of exchange companies here she said urged them to bring dollar-rupee parity within normal limits and warned of illegal action in case of failure.

``Our intention is to take you (exchange companies) forward and promote your businesses provided you abide by rules of business.'' She urged them to seek mergers, acquisitions to consolidate, strengthen sector and increase its efficiency.

On recent speculative trends in kerb market, she told exchange companies to keep dollar-rupee parity differential between Inter-Bank and Kerb markets at rational levels, restrain from speculation, focus on bringing in home remittances into the country. This differential should not be beyond normal trends seen in past, she said.

Exchange companies representatives gave firm commitment they will ensure dollar-rupee parity differential between Inter-Bank and Kerb market comes down to normal levels within a week. They assured cooperation to work with SBP.

Dr Akhtar said instead of curbing speculative trends, some exchange companies are playing a role in speculation that is totally unacceptable. ``You should not be led by speculation -it is time to serve country not to mint money through irregularities.''

She said whole idea behind setting up exchange companies was that these would play pivotal role in attracting home remittances and curbing activities of illegal operators. But, it has been noted some companies are indulging in illegal activities. ``Any evidence obtained against any exchange company would be sufficient to suspend or cancel its licence,'' she warned.

Dollar rate has gone to record. Can you imagine that within last 2-3 months dollar has gone from 60 to 67.

It definately have very bad effects on the economy of Pakistan.

What do you think, who is responsible?

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Pak People
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Its the effects of usa economy which is getting weaker because of foreign policies ,usa can not get all the oils & gas from middle east Iran nukes made it every thing nuesense , usa is too scared to confront Iran because Isreal may get all the damage like in labnon war hizabs have shown russian chinees toys to israeal that how real facts were ,
we like to see less dependency on oils & gas more hydro eletric cars even small scale nuclear infusions etc
pakistan aids have been cut again few dollars from 911 were too small to go long way mostly big brass of army has eaton up , now congress is cutting few millions ,when it needed the most to fight war on terror of usa .

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your site looks good

sad news

Well looks like our buddy "Rupee Man" PKR is being hit by all the Super Heros . I wonder are we ready to face Indonesia like crisis in Exchange Rate , with in few days State Bank of Pakistan which always walks on the rope seem to have $2- 3 billion lower reserves what if it continued for a month will Pakistan have same problem like Argentina or Indonesia some time back . I feel that we dont even that the capacity to come out it if it comes to us and we Pakistanis never face to balance the stage , look at the stock exchange its at the sky but our state bank is at the bootom rock . May be this will help exporters but has to be soon .

ohh shazia ....how closely you observe the money matters

are you a Economist???
happy to meet you ........ Miss Economist

you are right ........... this decline was as per expectations ..... President house doesnot want to see the newely elected government strong

He is a Puppet of Ammericans and putting the nation in trouble .............. we is the cause of this decline ..... apaarently he is considring himself safe

but everyone knows ..... who is the real reason for this all situation

All the Politicians .... Army politicians ... i mean in uniform are just playing with the nation interests

I think this country needs a powerfull and brave leader not the defeated rulers and not the poor politions

look at the bases of the politics and the tacts of the Army politicians

we are not blinds................ oh nonsence rulers and army servants ...........stop these bullshits .... stop making nonsene
stop ..... let the poor man to comeout the gravity for the basic life necesities ......... we are live and equal to any other nation of the world............. stop wasting the talent of the nation ............... select sacrifies for your individuals benefits and do not afraid for your life and status .....if you are muslims ......

i know it will not do anything with these poor rulers category .........

we require to do something right now .........

we require few very energetic patriots (few means few millions patriot)
i like to take over the army first ........as this is the black Elephant in this dark era of our history

are you with me??? ............................................................................

lets pray for our country

seems like its going to fall even more.

There are lots of reasons for it, for example:
1. Pakistani support WAR ON TERROR.
2. Musharraf`s poor policies.
3. Indian & Afghani propaganda against Pakistan.
4. Suicide bombing.
5. Loadshadding in whole country.
6. Cheif Justice long issue.

Well, these are the just few reasons of it.

But, in very simple words previous government damged a lot Pak Econony during their Kingdom
Mad

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I do believe on Ghosts.