Finance Minister Ishaq Dar has claimed that the rupee is going to strengthen in the coming days.
“Appreciation of the US dollar against Pak rupee is the mother of all evils. Its appreciation against the rupee is artificial and I am telling you that the actual value of the rupee has been manipulated,” he said during a presser in Islamabad.
He said since he had taken over the charge of the finance ministry, the rupee had appreciated and would go further up against the US dollar.
“I warn those involved in the artificial appreciation of the dollar against rupee, as strict action will be taken against them,” he added.
Currency dealers said the dollar lost another Rs2.49 in the inter-bank market on Thursday last to close at Rs229.63.
The currency market attributes the rupee’s recovery to Dar’s return as the new finance minister. He is believed to have a different view about the exchange rate and may opt for forced devaluation of the dollar as he did in the past.