US dollar will go below Rs200 in coming months, says Ishaq Dar

Finance Minister Ishaq Dar said on Monday that the actual worth of the US dollar is less than Rs200 and that the Pakistani rupee (PKR) will strengthen in the coming months with the correct policy measures.

Dar predicted that eventually, the value of the US dollar will go below Rs200 while speaking on the Geo News show Capital Talk.

According to Geo, the minister stated that the local currency value had been manipulated and threatened speculators with harsh punishment. He noted that the British pound just hit an all-time low against the dollar but added that the rupee will strengthen since it is currently undervalued despite the growth of the US currency.

It is important to note that the Pakistani rupee strengthened today in relation to the US dollar by 0.51 per cent, closing at Rs227.29 after gaining Rs1.16 in the interbank market. The rupee has risen against the dollar for seven days running.

It is important to note that after Ishaq Dar was appointed finance minister, currency speculation seems to have decreased.