Federal Finance Minister Senator Ishaq Dar on Wednesday stated that the rupee’s market value against the US dollar currently stood at Rs223.94, but per his calculations, the real value of a US dollar should be less than Rs200.
Islamabad;(Staff Reporter)
He said this while speaking on PVT TV channel program on Wednesday evening.
Dar explained that the main reason why the rupee had sunk to its lowest ever value was due to political instability fomented in the country. At its lowest towards the end of July, the rupee had fallen to an all-time low of Rs239.94.
While the rupee made recoveries in weeks leading up to the release of the $1.16 billion International Monetary Fund (IMF) tranche, it again fell to dangerously low territory in September, just before Dar’s return.
Dar told show hot Nadeem Malik that even when he was aboard Prime Minister Shehbaz Sharif’s aircraft heading to Pakistan, the rupee started strengthening.
From Monday (September 26) onwards, the dollar has lost around Rs15.71, he added.
