Pakistan's unique way of enhancing exports earnings by increasing dollar value
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*ISLAMABAD: Pakistan has found a unique way of enhancing exports earning of the country by reducing the value of rupee and increasing the value of US dollars. *
*State Minister for Finance Rana Afzal says surge in dollars's value could not be stopped as it price is determined by market forces.*
Speaking to media on Wednesday, he said the increase in dollar's value would lead to increase in exports.
"We do not interfere with matters to dollar, its value is decided by market forces,". said he.
He said the dollar's value between Rs112 and 115 is appropriate.
The rupee weakened to 116.25/dollar in early trade, before recovering some of the losses to settle at 115 by the close of the market on Tuesday.
The rupee was quoted 110.57 against the dollar on Monday. Buying and selling dollar was closed in the open market after extreme depreciation of the rupee on Tuesday.
