Rupee flourishes further against dollar after Ishaq Dar warningBreaking

September 29, 2022

The Pakistani rupee continued its upward trend in the interbank market as the dollar further weakened against the local unit for the fifth consecutive session on Thursday, after newly appointed finance minister Ishaq Dar's warning against manipulation of Pakistani currency. The dollar lost 1.12 against the rupee and was trading at Rs231 during intraday trade. The local unit closed at 232.12 per dollar on Wednesday, according to the State Bank of Pakistan (SBP) after it increased its value by 7.53 in the ongoing week. Currency dealers and analysts have cited that the return of Ishaq Dar — a close aide of PML-N supremo Nawaz Sharif — to Pakistan as the finance minister has helped improve sentiment and the fall in international commodity prices boosted the rupee’s rise. Finance Minister Ishaq Dar on Wednesday said no one would be allowed to play tricks with the local currency.

Credit: Independent News Pakistan-INP