Finance Minister Ishaq Dar made a statement on Tuesday, asserting that the real value of the US Dollar stands at approximately Rs. 250. Speaking to Samaa News, he emphasized that the US Dollar will eventually stabilize near the real effective exchange rate, citing Bloomberg’s estimation from May, which placed the rate at around Rs. 244.
Dar recalled his previous prediction that the US Dollar would fall below Rs. 200 last year, noting that the real effective exchange rate at that time was around Rs. 197. He further expressed confidence that the Pakistani Rupee will continue to strengthen against the US Dollar without any government intervention. Additionally, he highlighted the significant decrease in the grey market rate of the US Dollar, indicating that the Pakistani Rupee is poised for further strengthening in the coming weeks.
In line with this, the Pakistani Rupee demonstrated significant gains against the US Dollar in the interbank market, appreciating by 3.83 percent. Closing at 275.44, after an increase of Rs. 10.55, this development further supports the notion of a strengthening Pakistani Rupee.
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