BEIJING: Finance Minister Shaukat Tarin on Saturday asserted that the Pakistani rupee has started to gain ground against the US dollar after the release of the $1 billion tranche by the International Monetary Fund (IMF).
Speaking to state-run PTV News, Tarin said the rupee will continue to appreciate against the greenback. He added that he had been saying from the very beginning that there will be appreciation in the value of the Pakistani rupee.
According to the minister, he had warned “speculators and hoarders” that the rupee will move upward. “I am saying this again that the rupee will move upward again. They should keep faith in their own rupee, he added.
The rupee’s uptrend continued for the sixth successive day on Friday as the currency closed at a two-and-a-half-month high of Rs174.48 against the US dollar in the inter-bank market after exporters began selling the greenback.
Taking about the visit to China, Tarin said the visit was going very successful, adding that the prime minister and his team will meet the Chinese leadership by Monday to discuss economic projects.
“We are very hopeful about the prospects of the meeting as it would be good news for economic recovery,” the federal minister added.
