ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the government is trying to bring down the dollar price in order to ease the inflationary pressure.
According to state media the finance minister said the government is taking measures to bring down dollar price to 200 rupees after which the prices of daily commodities would also come down.
He said there is also a strong will to reduce inflation from 12 to 14 per cent and giving relief to common man.
READ MORE: PKR recovers against dollar for ninth consecutive session
He said stabilizing national currency against US dollar would have positive impact on every citizen’s life.
Responding to a question, Ishaq Dar said the government is committed to fulfill the agreement made with the International Monetary Fund (IMF).
READ MORE: PKR maintains winning streak against dollar on 8th straight session
It is worth mentioning that Pakistani Rupee (PKR) a day earlier continued recovery against the dollar for 9th straight session in the interbank foreign exchange market.
The rupee gained 1.70 to end at PKR 223.94 to the dollar from previous day’s closing of PKR 225.64 in the interbank foreign exchange market.
READ MORE: PKR continues upward journey for seventh consecutive session against dollar
The local currency gained PKR 15.77 against the dollar during the last nine sessions. The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 223.94 on October 05, 2022.
Currency experts said that the rupee was appreciating against the dollar due to positive sentiments following assumption of Ishaq Dar as the finance minister. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.
Meanwhile, the international oil prices also crashed which helped the rupee to make gains.
READ MORE: Rupee gains for sixth straight session against dollar; recovers PKR 11.26
