Islamabad: The Pakistani rupee gained Rs1.65 against the US dollar in the inter-bank market on Tuesday.
The State Bank of Pakistan said that at the end of today’s session, the local currency appreciated by 0.73%, gaining Rs1.65 against the greenback to close the session at Rs225.64.
Interbank closing #ExchangeRate for todayhttps://t.co/BZszLFDgCv pic.twitter.com/Uy3RqstpGf
— SBP (@StateBank_Pak) October 4, 2022
The bullish trend in PKR’s value is attributed to Ishaq Dar’s return, an advocate of a strong currency. Since his arrival on Monday last week, the PKR has started flying against the US dollar and has not yet seen a negative session.
Dar vows to bring dollar below Rs200
Finance Minister Ishaq Dar on Monday vowed to bring the US dollar below the Rs200 mark, saying that the real value of the greenback was lower than 200 Pakistani rupees.
While talking to a private TV channel, Finance Minister Ishaq Dar said that the government was working on the formation of a comprehensive strategy to bring the dollar price down to its actual level, which was less than 200 rupees.
Since his takeover of the finance ministry, the Pakistani rupee has been on a continuous upward trajectory against the US dollar. The PKR rupee carried its winning streak on Monday as well, appreciating Rs1.16 against the greenback. On Tuesday last week, Ishaq Dar took oath as the new finance minister. Since then, the Pakistani rupee has gained more than 4.11% against the US dollar.
Rupee’s winning streak against US dollar continues
Ishaq Dar said that internationally the dollar was getting stronger. However, in Pakistan, we would bring it down to its actual level, he said.
“The government is aware of the people’s suffering and assured that every promise made with the public would be met,” he added.
