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Friday, September 27, 2013

Dollar-Mafia Took It Up To Record Level And Then Dropped It, Investors Lost Billion Of Rupees

It looks like government has no control on any negative activities of any private or government institution. People are free to do anything they want from killing to kidnapping, rxtortion and what not. The latest example is the tactical activity of dollar-mafia who took dollar from 108 rupes to 111 rupes pe dollar and then suddenly closed the market, due to which mafia earned billion of rupees and investors lost trillion rupees. Dollar was again dropped to Rs 105 from Rs 111 and mafia stpped transaction of dollars after 5 PM, throughout the country. While government kept silent on the increasing trend in dollar exchange rate from 12 noon to 4 PM. Then due to silence of the government on the increasing price of dollars mafia gave imprssion that dollar will rise to 120 rupees. Because, dollar that was sold at Rs 98.51 on June 5 when Nawaz Sharif took Oath of office reached to Rs 99.63 on the first day of new financial year, Rs 104.51 on 1st of September and reached to its peak for Rs 108 on September 25. So due to impression of mafia and silence of government investors spent trillion of rupees on the purchase of dollars. On September 26, three billion dollars were purchased between 12 noon and 3 PM, in the country At the start of the day dollar was sold at Rs 109.70 i the open market, within one hour it reached to Rs 110.25, then it rose to Rs. 15. By the time investors had invested trillion of rupees on the purchase of dollars.Then dollar-mafia suddenly stopped the dollar transaction between 320 PM to 4 Pm and he dollar that was continously rising till September26 fell to the level of Rs 105.34. Due to which mafia became the wealthiest and investor became bankrupt. A famous money changer said that when the rate of dollar was rising people were demanding dollar no less than one lakh and there was no dollar left with money exch ers. The former finance advisor Salman Shah said that State Bank and Mafia earned a lot because they are in contact and the benefitted were the money exchangers.

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