Islamabad (Staff Report): Finance Minister Asad Umar on Friday ruled out a further devaluation of the rupee.
Addressing a ceremony at Pakistan Stock Exchange in Karachi through online video conference, the finance minister said that there is no probability of further rupee devaluation.
“Today, the State Bank of Pakistan (SBP) has clarified the rupee is standing at equilibrium,” he said and added, “Stop circulating rumors that Asam Umar has said rupee would depreciate to 160 or 180.”
The minister also denied that the issue of exchange rate level was discussed with IMF, adding that rumours should not be spread and don’t waste money by buying dollars.
