عمرانیو -- دیکھو عمران خان نے اسحاق ڈار کو نوکری پر رکھ لیا ہے
- Thread starter RajaRawal111
- Start date
8 times less! I guess that makes it halal chori! Courts should reverse all judgements against the sher. Right?
Don’t worry raja bhaiعمرانی بوجے جب تماشا کرتے ہوۓ اسحاق ڈار کا نام سنتے تھے تو ساتھ میں الٹبازیاں بھی لگاتے تھے اور غصہ دیکھانے کا ایٹم کرتے تھے
اب عمرانی بوجے خوشی کا اظہار کیا کریں گے - کیوں کہ جو اسحاق ڈار کرتا تھا اب عمران خان نے بھی کرنا شروع کر دیا ہے --- روپے کو مصنوعی کرتوتوں کے کنٹرول کرنا والے کام
SBP injects $1.2b to stabilise rupee
ISLAMABAD:
The State Bank of Pakistan (SBP) pumped $1.2 billion into the inter-bank market in three months to defend the weakening rupee but could not stop the local currency from falling to a historic low, highlighting the cost of expansionary policies without fixing the structural economic flaws.
The $1.2 billion injection into the foreign exchange market is contrary to the stated policies of the central bank, International Monetary Fund (IMF) and finance ministry, as all the three institutions claim that the rupee value is determined by market forces.
From mid-June to the first week of September, the central bank injected $1.2 billion out of its reserves, government sources told The Express Tribune. The maximum single-day injection of $100 million was made in July, followed by $85 million in August, they added.
The central bank reserves are built by taking expensive foreign loans like floating the Eurobond and issuing the expensive Naya Pakistan Certificates. The $1.2 billion injection was slightly higher than the $1 billion Eurobond loan that Pakistan took at 5.9% to 8.5% interest rate in July this year.
With the fresh injection, at least $5.8 billion has been thrown in the inter-bank market during the tenure of Pakistan Tehreek-e-Insaf (PTI) government to maintain an artificial value of the rupee.
Neither the Ministry of Finance nor the central bank explicitly denied that the SBP threw dollars in the market to defend the rupee.
“FX management is the sole responsibility of SBP and Finance Division does not interfere,” said the Ministry of Finance while responding to a question whether the SBP pumped money with the consent of the ministry.
“Since June 2019, Pakistan has adopted a market-based flexible exchange rate system, where the exchange rate is determined by market demand and supply conditions. Under this system, the role of SBP’s interventions in the FX market is limited to prevent disorderly market conditions, while not suppressing an underlying trend,” said SBP chief spokesman Abid Qamar.
However, sources said that the $1.2 billion did not fall under the category of intervention “to prevent disorderly market conditions”. They said that the move was against the fundamental policy of market-determined exchange rate and the central bank would have to explain this to the IMF during upcoming talks.
Qamar said that “when the exchange rate does not reflect realistic market conditions it can contribute to unsustainable current account deficits and repeated balance of payments problems”. SBP does not comment on speculations about market interventions, he added.
The chief spokesman neither denied nor confirmed that the central bank threw $1.2 billion in the market to defend the rupee.
But even the $1.2 billion injection could not stop a steep devaluation of the currency that eventually dipped to Rs168.94 to a dollar from Rs155.74 when the central bank started throwing money in the market.
The Pakistani currency hit an all-time low of Rs168.94 against the US dollar in the inter-bank market on Tuesday. The rupee has lost 7.28% or Rs11.51 to date since the start of the current fiscal year on July 1, 2021. This was despite the fact that since July the SBP threw $815 million in the exchange market, sources added.
The country’s external sector has started coming under pressure after the government adopted expansionary fiscal and monetary policies without first fixing the fundamental problems.
Like the PML-N government, the PTI government too is financing economic growth through debt, which is highly unsustainable, according to market analysts.
An Asian Development Bank study has come to the conclusion that with its existing structural problems, Pakistan is prone to the balance of payments crisis the moment its economic growth crosses 3.7%.
The country’s imports peaked to a new two-month record level of $12.1 billion in July and August, causing a $7.5 billion deficit, up by 120%.
“The trade deficit will increase but there is no need to worry about it,” Finance Minister Shaukat Tarin said on Tuesday while addressing a press conference.
He hoped that the trade deficit would be manageable, saying that if the economy over-heated the government would do some “tweaking”.
It is not for the first time that the central bank has pumped money into the inter-bank market to artificially defend the rupee.
The official record showed that from July 2012 to July 2013, the central bank pumped $3.43 billion into the inter-bank market.
Published in The Express Tribune, September 15th, 2021.
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SBP injects $1.2b to stabilise rupee | The Express Tribune
Central bank move contrary to its own, IMF and finance ministry policiestribune.com.pk
only 106 days left before your sher returns and fixes everything!
Citizen X
President (40k+ posts)
Yaar sharma kyun rahe ho. Seeda bolo na harami hai
Citizen X
President (40k+ posts)
Man this statement of raja chawal had me ? ? ? ? on the floor. Check out the pride he feels in stating yes ganja harami is thief but not as big a thief as you people say he is.
Yaar hudd ho gai
BrotherKantu
Chief Minister (5k+ posts)
Criminal law is littered with holes. Very difficult to punish convicts and keep them in prison. Criminal law reforms are under way. Soon without any loopholes will be implemented.
Changing the laws takes time. Something destroyed in decades can’t be fixed overnight.
‘
Changing the laws takes time. Something destroyed in decades can’t be fixed overnight.
‘
RajaRawal111
Prime Minister (20k+ posts)
You do it and tell me.
RajaRawal111
Prime Minister (20k+ posts)
Well both of you are not that stupid as you are trying to be. You are being treated as monkeks and being over inflated with lies that does not bother you at all.
It was donkey's face on stack otherwise he was very much able to prove that whole JIT was fake and drama. All he had to do is reading a single statement from Judge Basheers judgement that NAB did not prove any crime.
can you send me a link to that statement?
Citizen X
President (40k+ posts)
? ? ? ? ? ? Yaar waisay jahalat ki inthihaa hai yaar. Kya kya apnay taraf se khayali pulao pakaye huway hai.
RajaRawal111
Prime Minister (20k+ posts)
So after unblocking me you are back at your psychotic phase, posting 20 replies and still not satisfied
Citizen X
President (40k+ posts)
No such link exists, asi chawlien patwariyon ko nani media cell se aati hai aur inko charda huwa hota hai khota biryani ka nasha aur yeh chootiye maan lete hai ?
RajaRawal111
Prime Minister (20k+ posts)
Please ask his other psycho. He knows all about it. Because we had long discussion on this when judgement came out.
Imrani Monkeys were deliberately made to forget this afterwards.
RajaRawal111
Prime Minister (20k+ posts)
Okay with out calling you anything. Tell me are you happy and dancing on what Reza Baqir is doing now is right but was wrong when Ishaq Dar was doing it.
That answer will say everything about you.
Munawarkhan
Chief Minister (5k+ posts)
Honestly, I'm waiting for confirmation or rebuttal from SBP first. Our current SBP is transparent over all policies & decisions.
We rarely had people as talented as him in govt before (Ishrat Hussain was also great) & he has proved it by turning around our SBP in a matter of 2 years.
But interesting would stance of people like you, would you support or reject such moves?
Okara
Prime Minister (20k+ posts)
Hi Raja Sahib
As per SBP the total Sukuk/Eurobonds on June 2017 were USD 4.8 billions and were increased to USD 7.3 billions till June 2018
State Bank Report on External Debt 2017-2018
As per Statebank Report the Sukuk/Eurobonds on June 2019 were USD 6.3 Billions
Statebank Report 2018-2019
As per Statebank the Bonds are USD 8.263 billions
Statebank Report 2020-2021
Citizen X
President (40k+ posts)
Fuck you, you little bitch, now you are asking me to verify your lies! ?
Long discussion was as I said back then. It is a simple open and shut case, You admit to having these assets beyond your means and you cannot provide a money trail for them hence you are guilty of corruption. You dumb fuck still can't grasp the simple concept of burden on proof. Which is not on NAB but on Mian saanp to provide a legit money trail. Fuckin' idiot!
^^^^
Raja Chawal when mian saanp was thrown out of office and then later convicted of corruption till today.
Bus main nahi manta, main nahi manta, main nahi manta. Mujhe kuch nahi pata yeh sub jhoot hai
That's when I found out you are nothing but a dumb worthless patwari and even if mian saanp himself confessed to you ke haan main corrupt hou aur mainay dabba ke paisa loota hai you would go Nahiiiiii mian saanp yeh aap kissi ki dabao mein aa ke jhoot bol rahe hai.
RajaRawal111
Prime Minister (20k+ posts)
Forget about me my openions are already useless. You tell me if rebuttal does not come from SB. Would you start dancing or what.
RajaRawal111
Prime Minister (20k+ posts)
I am out of home for work. Will be back in couple of days. We will start this discussion right from this point please. Will provide you the link and all pertinent info.
As far as this gulfi low level skunk is concerned. He will never speak any truth to you. It is not in his chemistry.
