Finance Minister Asad Umar revealed great news regarding the rupee devaluation.
Rupee devaluation will not happen in upcoming days, as revealed by the Finance Minister Asad Umar. He revealed there’s no reason for any further rupee devaluation. However, the current USD to PKR rate is around Rs 142.
Addressing a ceremony at Pakistan Stock Exchange in Karachi by video link from Islamabad, Umar said, “Rupee’s value is in tune with the market and the State Bank of Pakistan has also said that is in equilibrium. In the past, rupee was kept artificially high.”
Asad Umar urged, “Rumours should not be spread and don’t waste money by buying dollars.”
“We have not spoken to the International Monetary Fund regarding the exchange rate level,” he clarified.
Finance Minister said, “The government has taken various difficult decisions in the larger interest of the country. We want to work according to the system worldwide and change should be introduced stage-wise.”
“Work on National Finance Commission has also been started,” he further added.