Karachi: Pakistan rupee Momentum continued against the dollar in the interbank market for an eighth straight session on Tuesday as new Finance Minister Ishaq Dar pledged to keep the dollar below 200 rupees.
the rupee It is changing hands at Rs225.5 per dollar after 1.79 received during early trading on the interbank market at around 10 AM.Rupee Remains Strong As Dar Vows
The dollar has weakened 13.71 rupees against the domestic unit since September 2. And because of the sharp drop in the value of the dollar. The county’s total debt was thus slashed by Rs 1700 billion.
‘The real value of the dollar is less than Rs200’
A day earlier, Finance Minister Ishaq Dar accused PTI Chairman Imran Khan of damaging the economy and assured the nation he would bring the dollar below 200.
“The real value of the Pakistani rupee is less than $200 against the dollar. and it will be depreciated. because at present the price is too low,” he said while speaking to Hamid Mir in Capital Talk on geography news.
Dar said the dollar was strengthening internationally, but “we will soon put it below 200 against our currency.”
He strongly supported currency market intervention in the previous three sessions at the event. And it is expected to strengthen the currency, which closed at Rs 227.29 against the US dollar on Monday.
Dar said that the speech of Imran Khan publicly reflected on his frustration. Increasing agreement and favoritism was part of Khan’s fate. “Imran competed in elections by breaking deals and staged demonstrations by breaking deals,” he said.
“Imran and his entire team are obsessed with me because they fear us. [PMLN] It will stabilize the economy again like we did in 2013,” he said, reiterating his suggestion that the country needs an economic charter.
“The Pakistan Bureau of Statistics (PBS) is an independent institution and is not involved in manipulative activities,” he said while answering questions about PTI leader Hammad Azhar accusing Dar of manipulating economic data.
“I know how to do it because I have been able to fix and deal with them for the past 25 years,” the finance minister said. “Prime Minister Shahbaz Sharif himself told me that during the United Nations General Assembly (UNGA), where Miftah was present, He has offered IMF officials to withhold taxes that they have not refused.”
“I believe that people tired of flooding and inflation should no longer be a burden,” he said, mocking his fellow PML-N members. “Burning the masses” with his policy Dar said the depreciation of the rupee caused more inflation. He added that the suffering that people are going through cannot be forgotten.
He said speculators were paid by the rising value of the dollar against the rupee and made a fortune. The finance minister said the credit for the IMF deal went to the PMLN-led government.
‘Obligations made by Pakistan for continuing loan projects’
on monday A resident representative of the International Monetary Fund (IMF) said the policy commitments made by Pakistani authorities to continue the support program remain in force.
“The policy commitments made by Pakistani authorities as part of the seventh and eighth hearings under their IMF support program remain in force,” Islamabad IMF representative Esther Perez Rui said. X said
Policy discussions, she said. including setting targets to support those affected by floods while maintaining
macroeconomic stability. It will begin next week after the damage assessment report becomes available. Reuters report