Real exchange rate value of US Dollar against Pakistani Rupee revealed
Former Pakistan finance minister Ishaq Dar expressed optimism regarding the strengthening of the rupee against the US dollar, asserting that banks and exchange companies were moving in a positive direction, and he believed that this trend would persist. He dismissed concerns about the fluctuating exchange rates as mere speculation, emphasizing that the country's economy should not be vulnerable to the whims of speculators.
Furthermore, Dar contended that the true value of the US dollar was approximately Rs244, and he expressed hope that the exchange rate would continue to decrease, stabilizing at around Rs250. During his tenure as finance minister from 2013 to 2018 under the PML-N government, he proudly highlighted Pakistan's economic achievements. Under his leadership, Pakistan's economy climbed from the 47th to the 24th largest in the world.
He pointed to a report by PricewaterhouseCoopers available online, which projected Pakistan's potential membership in the G20 group of leading rich and developing nations by 2030.
Despite facing various challenges, including controversies like 'Dawn Leaks,' 'Panama Leaks,' and political 'dharnas' (sit-ins), Ishaq Dar maintained that the country's economy remained stable during the tenure of the PML-N government.