Federal Finance Minister Ishaq Dar Monday said that the real value of the US dollar is below Rs. 200 and with the right policy measures the Pakistani rupee will grow stronger in the coming months.
Speaking in Geo New program Capital Talk, the finance minister said that the US dollar will eventually come below Rs. 200.
The minister said that the value of the rupee has been manipulated and warned speculators of strict action. He mentioned that the British pound dropped to an all-time low against the dollar recently but added that despite the rise of the US dollar, the rupee will strengthen as it is currently undervalued.
It is pertinent to mention here that the Pakistani rupee appreciated by 0.51 percent against the US dollar and closed at Rs. 227.29 after gaining Rs. 1.16 in the interbank market today. This was the seventh consecutive day the rupee has gained against the dollar.
It is pertinent to mention here that currency speculation appears to have decreased following Ishaq Dar’s appointment as finance minister.