Foreign Currency Accounts

kakajee

Minister (2k+ posts)
We are all humans and all humans commit mistakes. However, we have a tendency to learn from our past and from our mistakes and that makes us superior from other creatures.

But I feel like, this universal law doesnt apply to Pakistan and its people at least. That's why they opt for the filth like Nawaz Sharif again and again.

Those of you who are old enough to remember the tenure 1997-1999 of Nawaz government should recall how things were going from bad to worst in just 2 years time. So much so that the government who came as a "Two Third Bhari Mandate" as Nawaz used to refer it, when it was toppled people came on streets and celebrated to such a n extent that the sweet shops got empty in a couple of hours. The 'Sher' Supporters could not gather in hundreds anywhere including in Lahore.


This time again, things are going in that direction and much more quickly.
Those of you who have their hard earned Hallal money in Foreign currency accounts should look after it carefully. Otherwise Noora & its Munshi can again freeze these accounts all of a sudden one night.

Tough times ahead for Pakistanis ahead. I see hunger riots and protests on large scale in the coming few months as the inflation will simply go out of control.
 

GeoG

Chief Minister (5k+ posts)
HARD EARNED money kept in Dollar or currency Accounts, really!!

Why do people living in Pakistan chose to have bank accounts in Dollars in the first place,
are they not supposed to keep it in Rs account?

Whenever there are pressure on Rupee, these hard earned money $ account holder guys create further pressure by buying all the dollars from market which becomes a vicious circle and rupee continue it depreciation till all their rupee funds are exhausted..

No sympathy for Dollar hoarders, the greedy lot who accelerate Rupee devaluation...
 

Omrkhan

Minister (2k+ posts)
HARD EARNED money kept in Dollar or currency Accounts, really!!

Why do people living in Pakistan chose to have bank accounts in Dollars in the first place,
are they not supposed to keep it in Rs account?

Whenever there are pressure on Rupee, these hard earned money $ account holder guys create further pressure by buying all the dollars from market which becomes a vicious circle and rupee continue it depreciation till all their rupee funds are exhausted..

No sympathy for Dollar hoarders, the greedy lot who accelerate Rupee devaluation...

Dear
Speculators will never keep usd in bank ac. State bank of Pak is strict about foreign currency ac.
Yes, only people with relatives abroad can open ac.
 

Bunna

Minister (2k+ posts)
نواز شریف پہلے بھی فارن کرنسی اکاونٹ فریز کر چکا ہے اس کو تجربہ ہے اس طرح کے کاموں کا

گنجے نے پہلے بھی کہا ہے کے اسکو کافی تجربہ ہے

بس اب خیر مناؤ

خود نے تو بلین ڈالر باہر بھیجے منی لانڈرنگ سے
اور عوام کے پیسوں کو اس نے تین مہینوں میں دس فیصد کم کر دیا

حسن نثار درست بولتا ہے کے عوام کو خوب جوتے پڑنے چاہیے

جیسا بوۓ گے ویسا کاٹو گے
 

GeoG

Chief Minister (5k+ posts)
Dear
Speculators will never keep usd in bank ac. State bank of Pak is strict about foreign currency ac.
Yes, only people with relatives abroad can open ac.

There is no such condition to open a foreign currency account.
 

AsifAmeer

Siasat.pk - Blogger
Its easy to label these struggling folks are dollar hoarders whose sons or daughters send them money from abroad or those who know the rupee is going to loose alot of value soon.

And why the loyalty for Rupee? Just because you are born on a piece of land ruled by the most corrupt human excrement? Remember, you put your faith in the Rupee, you are helping them maintain an unjust system. I say this about the dollar too.


HARD EARNED money kept in Dollar or currency Accounts, really!!

Why do people living in Pakistan chose to have bank accounts in Dollars in the first place,
are they not supposed to keep it in Rs account?

Whenever there are pressure on Rupee, these hard earned money $ account holder guys create further pressure by buying all the dollars from market which becomes a vicious circle and rupee continue it depreciation till all their rupee funds are exhausted..

No sympathy for Dollar hoarders, the greedy lot who accelerate Rupee devaluation...
 

gazoomartian

Prime Minister (20k+ posts)


We are all humans and all humans commit mistakes. However, we have a tendency to learn from our past and from our mistakes and that makes us superior from other creatures.

But I feel like, this universal law doesn’t apply to Pakistan and its people at least. That's why they opt for the filth like Nawaz Sharif again and again.

Those of you who are old enough to remember the tenure 1997-1999 of Nawaz government should recall how things were going from bad to worst in just 2 years time. So much so that the government who came as a "Two Third Bhari Mandate" as Nawaz used to refer it, when it was toppled people came on streets and celebrated to such a n extent that the sweet shops got empty in a couple of hours. The 'Sher' Supporters could not gather in hundreds anywhere including in Lahore.


This time again, things are going in that direction and much more quickly.
Those of you who have their hard earned Hallal money in Foreign currency accounts should look after it carefully. Otherwise Noora & its Munshi can again freeze these accounts all of a sudden one night.

Tough times ahead for Pakistanis ahead. I see hunger riots and protests on large scale in the coming few months as the inflation will simply go out of control.



for one, we Pakis are stupids when it comes to voting. IK was available to lead but only dhandhli by Chief Justice, Punjab govt, and Americans got them in power.

65% of population province is really hurting the country. Has any fresh census been made public? IT WILL NOT be because that MIGHT make Punjab loos 65%. May be its Sindh now that has over 50%, we wouldnt know

And dhandhli by Fakhruddin G Ibrahim also
 

GeoG

Chief Minister (5k+ posts)
Its easy to label these struggling folks are dollar hoarders whose sons or daughters send them money from abroad or those who know the rupee is going to loose alot of value soon.

And why the loyalty for Rupee? Just because you are born on a piece of land ruled by the most corrupt human excrement? Remember, you put your faith in the Rupee, you are helping them maintain an unjust system. I say this about the dollar too.

I did not label these poor folks as hoarders as they would have no more than 10 percent of Dollar deposits, it is the speculators, who would not necessarily hold these in banks but mostly in cash. In fact major currency dealers act like stock holders and with a holding of one million Dollars they would buy sell to numerous of their customers a few times without a single dollar changing hands till the crisis eases and final customer takes delivery.

Loyalty for Rs, I suppose it depends on nature of your business, importer would be very loyal exporters would pray for weakness in the currency but for an ordinary man, any devaluation does have devastating effects as inflation sky rockets.
For me it is rather difficult to disassociate myself from my place of birth, I suppose you have learned this art.
 

rtabasum2

Chief Minister (5k+ posts)

I did not label these poor folks as hoarders as they would have no more than 10 percent of Dollar deposits, it is the speculators, who would not necessarily hold these in banks but mostly in cash. In fact major currency dealers act like stock holders and with a holding of one million Dollars they would buy sell to numerous of their customers a few times without a single dollar changing hands till the crisis eases and final customer takes delivery.

Loyalty for Rs, I suppose it depends on nature of your business, importer would be very loyal exporters would pray for weakness in the currency but for an ordinary man, any devaluation does have devastating effects as inflation sky rockets.
For me it is rather difficult to disassociate myself from my place of birth, I suppose you have learned this art.

Lol there is no let up u were always loyal
 

hans

Banned
GeoG lives in UK.... his kids study in a local Lahore Radical Islamic Madrasa.
He is a Taliban lover.

So dont worry... his post and views are never logical.





Its easy to label these struggling folks are dollar hoarders whose sons or daughters send them money from abroad or those who know the rupee is going to loose alot of value soon.

And why the loyalty for Rupee? Just because you are born on a piece of land ruled by the most corrupt human excrement? Remember, you put your faith in the Rupee, you are helping them maintain an unjust system. I say this about the dollar too.
 

AsifAmeer

Siasat.pk - Blogger
>>they would have no more than 10 percent of Dollar deposits
Got proof,stats to back up your claim?

Ofcourse Currency dealers stash dollars, thats what their business is. Its like calling a Milkman a 'milk hoarder'.

>>they would buy sell to numerous of their customers a few times without a single dollar changing hands
You're right! Its called a Counter-Party Risk. This is the primary reason why there is a difference b/w Inter-bank dollar rate and open market cash dollar rate. When you have dollar in hand, there is no counter party risk. This is the reason why Futures markets exist. Central Banks regulate the leverage ratios in these markets and can always be reduced to avoid a system risk (for which they always miserably fail)

>>For me it is rather difficult to disassociate myself from my place of birth, I suppose you have learned this art.
You mixed up a Central Govt's issued money with your love for the land/culture you were born in. These are 2 different things. Totally different. Infact I would argue that philosophically, one entity is dangerous for the existence of the latter.


I did not label these poor folks as hoarders as they would have no more than 10 percent of Dollar deposits, it is the speculators, who would not necessarily hold these in banks but mostly in cash. In fact major currency dealers act like stock holders and with a holding of one million Dollars they would buy sell to numerous of their customers a few times without a single dollar changing hands till the crisis eases and final customer takes delivery.

Loyalty for Rs, I suppose it depends on nature of your business, importer would be very loyal exporters would pray for weakness in the currency but for an ordinary man, any devaluation does have devastating effects as inflation sky rockets.
For me it is rather difficult to disassociate myself from my place of birth, I suppose you have learned this art.
 

GeoG

Chief Minister (5k+ posts)
GeoG lives in UK.... his kids study in a local Lahore Radical Islamic Madrasa.
He is a Taliban lover.

So dont worry... his post and views are never logical.

I know Pakistani is of Pakistani origin but not sure from Lahore or some other city
If from Lahore, there is more likelihood that he is gone to same Madrasa called Aitchison

keep trying, we love to laugh at your misery....
 
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