Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin sees a definite role of speculators in the devaluation of the rupee beyond Rs170 against the US dollar in the inter-bank market, asking the central bank to play its role in the matter.
Pakistan and the International Monetary Fund (IMF) have renegotiated to soften conditions to resume the $6 billion loan programme and almost reached an agreement to resume it. The IMF would soon announce the resumption of the programme. Besides, Pakistan has inked an agreement with Saudi Arabia that was a must to receive the promised $3 billion deposits into the State Bank of Pakistan’s account from the kingdom.
To recall, the rupee hit an all-time low of Rs175.73 against the greenback in the inter-bank market on Friday, according to the central bank’s data. It plunged to Rs178 in the open market.
