Dollar Up, Rupee Down!

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This is going to be the top news especially for entrepreneurs these days. The fall in rupee value creates extensive problems for business community in my country. International trades declines & prices in domestic market of imported goods is going up on continual basis these days. It is however understood that state bank of Pakistan issued bonds & a quantity of dollars to local banks but results didn’t seem to be positive. The causes of this inflation are no other then the unstable political situation. The unsafe trading environment due to suicide bombing & the military operations in tribal areas of Pakistan. For instance unlike a blogger like club par excellance if you are a businessman & have invested a good amount of money in the business, similarly u have maintained a bank account for business purposes. Then during this, the country where u has invested the money faces problems of terrorism & internal political instability. What will you do then? Yes majority off the people will try to dig out the money from the banks. They either keep the money with them & or find other financial institutions outside the country. So eventually you chose other country to establish your business. So same is the problems here today. Another reason of this inflation is crises that the international stock market is facing these days.

Here I want to update you about today’s value of rupee against us dollar too, dollar go up by 2 rupee so one US dollar worth eighty one rupee this day…currenty notes are offerd at eighty five against one us dollar in local exchange market.

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October 16th, 2008 | Business, pakistan affairs

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