"Dollar Jaldi 250 Say Niche Ajayga..." - Big News Regarding Dollar Price - video Dailymotion

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Transcript

00:00 We saw earlier that the open market was not in our hands, it was not being controlled.

00:04 Interbank was chasing it.

00:06 We had to fulfil the IMF conditions.

00:08 That pressure was constantly on.

00:10 Then the open market went down from the Interbank.

00:12 And now we see that the value of the dollar is at a 16th session.

00:16 Today, the Pakistani currency is at 1.05 rupees,

00:20 and with improvement, it is at 288.75 rupees.

00:24 Earlier, we used to sell 5 to 7 million dollars daily at Interbank,

00:30 now we are selling for 20 million dollars.

00:32 Because of this, the supply has increased, and the rate of Interbank has also started to fall.

00:36 Today it is at 288, tomorrow it will be at 287, and it will go further.

00:40 And its target is the same, it will go up to 250.

00:43 And everyone will believe that the dollar has increased so many times,

00:46 and it has fallen so many times.

00:48 It kept zigzagging, and it would hit a U-turn.

00:50 This time, we will not let it hit a U-turn,

00:52 we will keep it down.

00:54 And whenever people will believe,

00:56 right now, in large numbers, people are coming to buy,

01:00 5% of people are coming to travel for health education.

01:03 That is why we have a surplus supply, there is no one to buy.

01:07 So this is the reason.

01:08 The basic reason was the same, the stick, the sticks, they don't listen to the ghost talks.

01:11 The banks had made a whole speculation group,

01:13 they had made a cartel.

01:15 And no government would put their hands on them out of fear.

01:17 Then they would come and make announcements.

01:19 They would be punished severely, but before going, they would forget all the punishments.

01:23 Now they have called them and told them that it is enough,

01:28 we will put our hands on them,

01:30 we will not let them play with the message of Pakistan.

01:33 So this message was so strong,

01:35 that you see, the banks that never came under control,

01:37 they came under control for the first time,

01:39 so now, slowly, daily, one or two rupees are falling.

01:42 So, God willing, you will see the market, up to 250,

01:45 and then its next level is 240.

01:47 The stick has been used, definitely, Mr. Bostan.

01:49 According to the IMF deal, the market base rate of the dollar will be there.

01:52 Although, in the market, the dollar is not more than 20-30%.

01:56 The rest of the dollar is being traded through banks,

01:59 or payments are being made.

02:01 So, why is the difference between the interbank and open market value of the dollar,

02:04 why is it constant?

02:06 The reason for that is, the supply has increased, the remittance has increased a lot.

02:11 See, the remittance was 1.99 billion last month,

02:15 and then it increased to 2 billion last month,

02:17 and this month, you will see, it will go up to 2.5 billion.

02:20 So, the remittance is very big.

02:22 Because, earlier, there was a difference, people used to go to the open market or the black market to sell.

02:26 So, now, when the difference is over, people give the money to the bank officials.

02:30 And, anyway, the black market is now gone,

02:32 and smuggling has stopped.

02:34 The biggest money was collected by smugglers,

02:37 because all the smuggling items used to come in exchange for the dollar.

02:40 So, now, smuggling has stopped, so the demand for the dollar has completely ended,

02:43 and the demand for the remittance has also ended.

02:45 And, you have seen, there are continuous crackdowns, people are being arrested,

02:48 and there is action against the mafia.

02:50 So, this was a very big mafia, which no one would dare to touch,

02:53 so, this heavy stone was finally lifted by the army.

02:56 So, as a result, the supply has increased,

02:58 so, automatically, the dollar is falling in the interbank and in the market,

03:01 there is no demand.

03:02 Now, the importer has also come to know that the dollar is going to be 250.

03:06 So, they have put their imports,

03:08 I have asked the bank officials yesterday,

03:10 and they have told me that the import LCM has reduced by 50%,

03:13 and the import LCM is not opening.

03:15 They are sitting on this hope, and it is right that they will go down and buy the dollar.

03:18 But, the exporters have not brought their proceeds yet,

03:21 if they bring their proceeds, the dollar will fall a lot.

03:23 They are sitting on this hope, because in July, you saw, the dollar rate had gone up to 270,

03:27 and it increased to more than 270,

03:29 and the banks, you remember, Mr. Ishaq Dar,

03:31 he even tweeted that the dollar rate is 270,

03:34 but the banks did not listen to him,

03:36 and after a few days, it went down to 280, then to 85, then to 90, then to 300,

03:39 and then it stopped at 308.

03:41 So, this is what I have told you before,

03:43 I do not want to repeat it again and again, but this is the reality.

03:46 It is like this, Mr. Magadbostan,

03:47 where there is a big reason for the increase in the value of the dollar,

03:49 there is smuggling as well,

03:50 and in smuggling, the 5000 note is also a very important factor.

03:53 If the 5000 note is abolished,

03:55 then do you see a reduction in smuggling?

03:58 This is a very big factor.

04:00 I have suggested that the 5000 note should be cancelled,

04:05 or it should be given a 2-3 year period,

04:07 it should not be cancelled,

04:08 so that people do not suffer losses.

04:09 So, at this time,

04:10 as the business council shared a data with you two weeks ago,

04:14 the note that has been printed,

04:15 the 9000 note is outside the banks,

04:18 so the 9000 rupees are with the mafia,

04:22 and if it comes into the banking sector,

04:24 then Pakistan's fate will change.

04:26 At this time, you see,

04:27 there is a lot of interest in 22%,

04:29 you get 22 lakh rupees for 1 crore,

04:31 what kind of a business is this?

04:33 You do not get so much money in dollars,

04:35 if the dollar increases,

04:36 then it is beneficial,

04:37 otherwise, there is no benefit in keeping the dollar.

04:39 If we do not value the dollar,

04:40 then why is the world doing it?

04:41 We are making the dollar fall by buying it.

04:44 If we sell the dollar and buy the rupees,

04:46 then the value of Pakistani rupees will increase,

04:48 and this is the best of Pakistan.

04:50 I think people will be forced to buy it when it reaches 250,

04:53 because it has already fallen from 270 once.

04:56 So, people will still have the same hope

04:58 that it will come back after 270.

05:00 They will still have the same hope that it will come back after 270.

05:03 You are repeatedly saying that the dollar will fall by 250,

05:06 is this an internal tip that the operation will continue

05:09 until the dollar is not worth 250?

05:11 A special investment council meeting has been held today,

05:13 and then it has been considered

05:15 that the operation is still going on,

05:17 but until the dollar does not come to 250,

05:19 the operation will continue.

05:20 Do you have any internal information?

05:22 Because, even on the real value of the dollar,

05:24 you are saying that the dollar will come down by 250.

05:27 Has this been decided?

05:29 No, there is no such thing.

05:31 I am not saying this,

05:33 but two months ago, you must have heard the news,

05:36 that the Pakistani rupee of Bloomberg is very much undervalued,

05:39 and its real value is 240 rupees.

05:41 You can see it in the region.

05:43 India's is 78, Bangladesh's is 55.

05:45 Thank you very much, Mr. Usman, for being with us.

"Dollar Jaldi 250 Say Niche Ajayga..." - Big News Regarding Dollar Price

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