Pakistan dollar

Dollar will fall below 200 in Pakistan, confident Dar claims

Finance Minister Ishaq Dar on Oct 3 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.

“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 mentioned that the dollar value is strong internationally, but “we will bring it down below 200 against our currency soon.”

Since Dar was sworn in on September 28, the seasoned politician and chartered accountant faces the daunting task of stabilising an economy that has for months been in a tailspin, facing multiple threats of high inflation, a widening current account deficit and falling reserves.

He has strongly favoured intervention in currency markets in three previous stints in the job and is also expected to strengthen the currency which closed at Rs227.29 against the US dollar today.

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