08-06-2009, 03:45 PM
To make matters worse, rate of Sterling has skyrocketed in the past few months. The forex rate of Pak Rupee against UK Pound Sterling was around <b>1151</b> in the month of February. On 28/7/09 the rate was <b>1351</b>. Today, the rate is <b>141.51</b>. My expectation is that the rate would stabilize at this point.
Dont expect that the Sterling would come down to a bit more "sensible" ranges.
Sterling jumped to its highest level since mid-October against the dollar on Wednesday(5/Aug/09), buoyed by a raft of stronger-than-expected UK data which strgenghtened the view that UK economy is improving from a deep slowdown.
Unless the dollar does not strengthens against Sterling, Pak Rupee has no chances of improvements against the Sterling.
Gentlemen, we are in deep sh*t right now!!!
Dont expect that the Sterling would come down to a bit more "sensible" ranges.
Sterling jumped to its highest level since mid-October against the dollar on Wednesday(5/Aug/09), buoyed by a raft of stronger-than-expected UK data which strgenghtened the view that UK economy is improving from a deep slowdown.
Unless the dollar does not strengthens against Sterling, Pak Rupee has no chances of improvements against the Sterling.
Gentlemen, we are in deep sh*t right now!!!
