KARACHI. Dec 8,2022. As the news of backdoor negotiations between the government and Pakistan Tehreek e Insaf (PTI) hit the headlines in last 24 hours ,the currency market is also shows healthy signs. There is no major fluctuation in th currencies in the last 24 hours.
In interbank , US dollar showed slight depreciation and it traded at Rs 224.15 on Thursday against its last day’s rate of Rs 224.20.
In open market , US dollar did not show any change . It remained stable at the last day’s rate of Rs 229.70 .
Saudi Riyal and UAE dirham traded at their last day’s rates . Saudi riyal pegged at Rs 63.20 and UAE dirham remained stable at Rs 65.15.
Euro too remained stable and it traded at Rs 248.50. it also did not observe any change in the rates.
Pound sterling remained pegged at Rs 28850.
Pakistan is taking some cautious measures to have a check on manipulation of the currency of the local currency .
In Miftah Ismael ‘s time, a strong mafia of the banking sector and Forex companies had hit hard to artificially jackpot US dollar rates in Pakistan .
The banks and Forex companies mafia was hand in gloves with the State Bank of Pakistan and it pushed US dollar rates to all time high to Rs 242 in the last fortnight.
Miftah Ismael did every possible nation to benefit this mafia and as a result it plundered billions . The ministry of Finance and SBP did not act despite knowing well that the mafia was creating problem for the government. At one stage , Pakistan Muslim League Nawaz (PMLN) started to doubt honesty of Mr Miftah and finally he was summoned to London where Mian Nawaz Sharif asked him to step.down as Finance minister
Then Mian Nawaz Sharif decided to launch Ishaq Dar to have a check on dollar mafia . Interestingly , Mr Miftah is intentionally issues statements which can strengthen PTI’s statements regarding Pakistan’s economy.
Despite dirty campaign of Mr Miftah Ishaq Dar is taking good steps to control flight of dollars from Pakistan.
