KARACHI: Nov 14, 2022: Despite runours in social media of the rupee , the currency market remained stabile and there was no fluctuation seen in the rates of US dollar or the local currency.
On the first working day of the week, US dollar opened at Rs 221.60 in interbank and remained stable . US dollar had closed at the same rates in interbank on Friday last .
In open market too there was no change in the rates of US dollar or any other major currency trading in the currency market. US dollar in open market is trading at Rs 225.50 for the last one week.
Saudi Riyal slide down to Rs 62 from its last working day’s value of Rs 62.20. UAE dirham showed no change in its value and it traded at its last week’s rate of Rs 64.
Despite stability in the currency market , Pakistan Tehreek e Insaf (PTI) leadership is generating runours and claiming of crash of the local currency against US dollar.
There is no one in the government side to dispel the PTI rumours regarding depreciation of the local currency . Even State Bank of Pakistan (SBP) is not giving any clarification in this regard.
Rumours mongering has been a particular part of Pakistan’s politics and it worked always worked for the rumours mongers, but PTI has added this nuisance to the financial side as well.
There should be a prompt response to PTI rumours generation to stop it hurting Pakistan’s economy . PTI is otherwise going as per its plan to damage Pakistan’s economy to accomplish its real agenda .