PARTLY FACETIOUS: Why is rupee weakening against USD?

“So why is the dollar strengthening against the rupee?” “If Dar is to be believed…”

“Depends?”

“Excuse me, I will have you know that he is an extremely religious man and…”

“I agree but what he says when in jail and what he says when out of jail, what he says in exile and what he says when he is in the country…”

“You as a Khanzadeh should praise him for adapting to different environments. I mean when The Khan was in the UK his morals were different from when he returned and…”

“Oh shush, anyway Dar sahib has convinced the cabinet and the establishment that the rupee is not strengthening because of The Khan statements as well as smuggling into Afghanistan and has nothing to do with his policies.”

“Well Dar sahib’s cabinet consists of one man and he is in London and this time he and his daughter want a welcome on their return which is a far cry from their previous welcome by law enforcement agencies…”

“What numbers are we talking about?”

“Hundreds of thousands…”

“How many hundreds?”

“More than enough to rival The Khan’s jalsas.”

“OK I have it on authority that Dar sahib has made it mandatory for all Grade 7 to 21 officers…”

“Don’t be facetious, Nawaz Sharif has die hard supporters but perhaps not as many as The Khan…”

“Right, anyway going back to the dollar did you know that around a million dollars a day are smuggled out of the country to Afghanistan…”

“Excuse me but that’s not a lot – around 362 million which is peanuts – you triple this amount and it would still be less than a billion dollars a year so that ain’t the reason for the rupee depreciation.”

“The Khan’s statements…”

“I reckon the long march did create uncertainty which may have impacted on the rupee value but with The Khan in that garishly red throne at his Zaman Park residence…”

“Ha ha, the love of leaders for gold and red and…”

“Indeed Trump, and Nawaz Sharif and…”

“Anyway the widening differential between the interbank and the open market rate…”

“Hey isn’t the State Bank autonomous now?”

“Indeed given that wishes are horses beggars would ride I see scores of beggars on horses in the Land of the Pure.”

“Don’t be facetious.”

Copyright Business Recorder, 2022