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No strickness, Market sets dollar rate by itself, Ishaq Dar

True value of the American currency is less than 200 rupees, Finance Minister

Islamabad: Federal Finance Minister Ishaq Dar has said that the baton has not been pushed yet and the dollar rate has recovered in the market, the true value of the American currency is less than 200 rupees.

Talking to the media after the successful negotiations with the All Pakistan Textile Mills Association, the Federal Finance Minister said that he decided to set the price of electricity at Rs 20 per unit for the export sector.

He said that Pakistan needs exports, we called rupee as market base, but it does not mean to leave its currency open.

He said that when I left London, there was a positive change in the currency market, but so far no instructions have been issued by me nor have I taken the baton.

Ishaq Dar said that Pakistan’s foreign debt has decreased by 26 billion rupees due to the decrease in the value of the dollar. The finance minister added that the true value of the dollar is less than Rs 200, action will be taken against the private banks manipulating the currency rate after the investigation is completed.

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