The Pakistani rupee has begun to gain ground against the US dollar, according to Finance Minister Shaukat Tarin, following the release of the $1 billion tranche by the International Monetary Fund (IMF).
Tarin told PTV News in Beijing that the rupee will continue to strengthen against the dollar. He went on to remark that he has been predicting an increase in the value of the Pakistani rupee since the beginning.
وفاقی وزیر خزانہ شوکت ترین کی چین سے وزیراعظم کے دورے کے حوالے سے اہم
گفتگو …
@shaukat_tarin
@FinMinistryPak #PMIKinChina pic.twitter.com/94ZIgWF0kJ— PTV News (@PTVNewsOfficial) February 5, 2022
The minister said that he had told “speculators and hoarders” that the currency would rise, and that “the rupee will go [upward] again.” He stated that they should have faith in their “own rupee.”
The visit to China is going well, according to Tarin, who said that the prime minister and his team will meet with China’s prime minister and president by Monday to discuss economic initiatives. “We are quite optimistic about the meeting’s chances because it would be fantastic news for the economy,” he continued.
On Friday, the rupee’s ascent continued as the currency finished at a two-and-a-half-month high of Rs174.48 against the US dollar in the interbank market after exporters began selling the greenback.
Following the reopening of the International Monetary Fund’s (IMF) $6 billion loan programme a few days ago, exporters returned to selling counters as the market anticipated a rise in foreign currency inflows from a variety of sources.
