State Bank of pakistan put a ban on transfering foreign currency !!

January 10th, 2008 by Xpertu

State Bank of pakistan put a ban on transfering some currencies to outside world ,the main currencies are the US dollar , Canadien Dollar , Pound and Euro , the reason behind this is that , Pakistani Forex rates are going down day by day and dollar has been reached to its highest value of 70 now Shamshad Akhtar , Governor State Bank of Pakistan has issued a comand not to let these currencies to go outside , as it may effect the current situation more and there is a chance of downfall of the newly developed government . Those guys who have a lot of US dollars or other currencies in their accounts , can get benifits from this situation . If they will exchange the US dollar with the PKR ( Pakistani Rupee ) then they can get a lot of profit and this is the best opportunity for the foreign currency accounts holders to get benifits from this issue .
State Bank of Pakistan has also started some campaign in the country to cope with this situation , the US dollar was probably on 63 in the last month but it jumped to 70 within 20 days , this is not a fluctuation but its a blunder .Some Experts have predicted that this price may fall down in the next couple of days but no one can be a perfect predictor in this area as , this is the thing will is touch with all the things , the increase in the prices of dollar raises the prices of all the things in the country and now a days pakistan is really in great trouble and there is a need of some foreign help , I would request US President to give some money to Pakistan so that it may get solve their basic problems .

Posted in Business, Finance, Forex update, Insurance | No Comments »