Web Desk(April 25, 2018): The government’s claim to rein in a surge in dollar’s value versus rupee failed miserably, with an increase of fifty paise in the value of US dollar to reach at an all-time high of Rs 118.50.
A few days ago, Adviser to Prime Minister on Revenue Miftah Ismail had said that there would be no further depreciation of rupee.
During the last four month, the dollar gained 10 percent in value versus rupee, overburdening the country’s import bill.
The State Bank of Pakistan summoned a meeting of foreign exchange companies to control the surge in the value of the dollar. The meeting decided to keep the value of dollar steady.
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