Ishaq Dar announced to bring down the dollar to below Rs 200

Ishaq Dar believes that actual exchange rate of dollar should be around Rs180 instead of current rate of Rs228 

Finance Minister Ishaq Dar Monday accused PTI Chairman Imran Khan of destroying the economy and assured the masses that he would bring the dollar value below 200 with the help of his policies. Ishaq Dar says that the rupee will be brought down below Rs 200 against the US dollar in accordance with the calculation done on Real Effective Exchange Rate (REER

“The actual value of the Pakistani rupee is less than 200 against the greenback and it will be brought down as it is currently undervalued,” he said during Geo News' programme "Capital Talk." He seems confident that the dollar’s current exchange rate is artificially hiked. The banks and big exchange companies has been involved in manipulation and speculation. He also believes that actual exchange of dollar should be between Rs170 to Rs180.  

He mentioned that the dollar value is strong internationally, but “we will bring it down below 200 against our currency soon.” He has strongly favoured intervention in currency markets in three previous stints in the job and is also expected to strengthen the currency.

Ishaq Dar replaced Miftah Ismail as finance minister on September 28. Ishaq Dar has been brought back to stablise the struggling economy. The economy is facing multiple threats of high inflation, weakening Rupee, a widening current account deficit and falling reserves.

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