Need advice on preventing the value of my cash from depriciating

[Shalashaska]

Hello all,
As we all know, the value of Pakistani Rupee is falling rapidly so I wanted to convert some of my Rupees into some other form. I have two options in my mind at the moment:

1. Convert my rupees into dollars or some other currency.
2. Convert my rupees into gold.

Please give me advice on which one of the above options should I choose?

Also suggest any other way of preventing the value of my cash from depriciating. Should I invest cash to buy shares of a plc. whose rates are expected to increase in forseeable future?

 

[GloriousChicken]

Hello all,
As we all know, the value of Pakistani Rupee is falling rapidly so I wanted to convert some of my Rupees into some other form. I have two options in my mind at the moment:

1. Convert my rupees into dollars or some other currency.
2. Convert my rupees into gold.

Please give me advice on which one of the above options should I choose?

Also suggest any other way of preventing the value of my cash from depriciating. Should I invest cash to buy shares of a plc. whose rates are expected to increase in forseeable future?

Gold will be better.

And it will make your wife happier too.
:umad:

 

[Shalashaska]

Gold will be better.

And it will make your wife happier too.
:umad:

Bro, I am talking about a serious matter. If its gold, then it would be gold bars. Actually I have about 75k cash which I would want to convert. And can you tell me a good reason why would gold be better?

P.S. I'm just 18

 

[GloriousChicken]

Bro, I am talking about a serious matter. If its gold, then it would be gold bars. Actually I have about 75k cash which I would want to convert. And can you tell me a good reason why would gold be better?

P.S. I'm just 18

i was just making sure bhabi is okay.


Well, Gold bars....
I dont think you can get gold bars under that price? No?

Doller would be better.
but it would become an issue if Pakistan takes a loan reserve....




Maybe others might know.
im not much of a thinker when it involves stuff like this.

 

[afeef]

IMO keep 75K cash , converting it any other currency will be useless since the difference will be small. if you still have this urge then i'll say buy gold but yet again the difference will be small when you will cash it out.

 

[Lord AvaLon]

Convert your Pk rupees in a PS4 and live happily ever after.

 

[abcd]

Do you want to invest in the short term or long term?
If it's only for few months convert into dollars. The return on this amount would be negligible but at least there will be no depreciation. If you are thinking of long term then buy 10g or 20g gold and forget about it for a few years. In the long term gold will give a reasonable return.

 

[Moiez89]

Chk Pm.....

 

[Shalashaska]

i was just making sure bhabi is okay.


Well, Gold bars....
I dont think you can get gold bars under that price? No?

Doller would be better.
but it would become an issue if Pakistan takes a loan reserve....




Maybe others might know.
im not much of a thinker when it involves stuff like this.

If Pakistan takes another loan, that would mean that the value of PKR would further decrease, and in relation to that, price of dollar would increase so that would mean its not a problem for me.

IMO keep 75K cash , converting it any other currency will be useless since the difference will be small. if you still have this urge then i'll say buy gold but yet again the difference will be small when you will cash it out.

Thanks for the advice bro. Actually, I don't want to convert it to make a huge difference or to earn profit, I just want to stop the value of my Cash from decreasing. Because, about five years ago, we could buy $1,250 with Rs.75k, but now it can only buy $700, and soon it would buy even less, so I want to prevent it from further depriciating.

Convert your Pk rupees in a PS4 and live happily ever after.

Lol, I will buy PS4 in 2015 Insha Allah. Currently I want to save. Right now $399+import duty= about 50k but if rate of rupee further falls until 2015, I would have to spend even more.

Do you want to invest in the short term or long term?
If it's only for few months convert into dollars. The return on this amount would be negligible but at least there will be no depreciation. If you are thinking of long term then buy 10g or 20g gold and forget about it for a few years. In the long term gold will give a reasonable return.

Thanks for your response. I want to invest in long term because I don't need this amount of cash right now, and keeping it in its current form is only giving me a loss. BTW how much would 10g-20g of gold cost? Will it come within 75k?

 

[KDKHAN]

BTW how much would 10g-20g of gold cost? Will it come within 75k?

46K for 10g now a days. Do your math.

 

[abcd]

Gold is around 46k per 10g.

Edit:Oh didn't see its already been answered.

 

[azharkhan]

Dont think, Just spend it somewhere ASAP coz its value is depreciating every second.

 

[Mephisto]

Gold and Land.

If u have income that continues to come - buy some small land in installments. That's money saved and land doesn't depreciate.

Stocks are good if you know the market and people. It takes a while to study and keep ur self updated with the market, and its always risky... But if done right you can earn good money.

But the quickest safest option is buying gold. BTW 75K isn't much amount so don't worry about inflation.

 

[saadsky]

prize bonds.

 

[Shalashaska]

Ok, thanks for the help guys. I guess I'll buy gold now. @Moderators! The thread can be closed now

 

[Gorsi]

Invest in Saudi Riyals..

Bro invest in Saudi Riyals because SAR will never ever let you down and if you wait for few months you'll get reasonable return and there will be no more fall in money value....

Don't invest in Gold because (i) You don't have much money...75k is nothing for Gold investment (ii)No one can assure that gold prices again will not fall down suddenly as we have seen few months back...

for 75k you'll get 700$ but for 75k you'll have 2,705 SAR.....so as per current conditions of Riyal and Rupee if Rupee tends to decrease again than you will get more return as compare to Dollar....

Choice is urz....