Ishaq Dar, the finance minister, asserted on Tuesday that the real value of a dollar is Rs. 190.
The finance minister Ishaq Dar stated that the real worth of the dollar is less than Rs. 200 when speaking to a private television channel. He even went beyond and stated that the true value of the currency is Rs. 190.
He nevertheless attributed the current value of the dollar to the nation’s political unrest.
It is important to note that the finance minister had earlier in October asserted that the real value of the dollar was under 200 rupees and would be reached by the beginning of November.
In today’s interbank market, the rupee recovered against the dollar to settle at Rs. 223.42.
When asked about a probable reduction in fuel costs due to the drop in global oil prices, the minister responded that the government would pass the benefit on to the general public but that there was little chance of quick assistance in this respect.
Since September 28, 2022, Muhammad Ishaq Dar, a Pakistani accountant, and senator, has served as Pakistan’s 42nd finance minister.
To read our blog on “Pakistan may find it challenging to restructure its dollar-denominated bonds,” click here.