Monday, July 22, 2024

US Dollar to Fall to Rs. 250 Soon, Claims Sindh Governor Tessori

Sindh Governor Kamran Khan Tessori has predicted that the US dollar will continue to decrease in value compared to the Pakistani rupee, possibly reaching a range of Rs250-255.

This prediction comes as the Pakistani Rupee has seen a 14th consecutive recovery session, gaining Rs 1.01 against the US dollar in interbank trading, closing at Rs291.76. This recovery is attributed to the government’s efforts to combat currency smuggling and activities on the black market.

Governor Tessori made this statement during a joint press conference with Caretaker Commerce Minister Gohar Ejaz after discussions with Karachi’s business community.

The government’s commitment to addressing various issues, providing affordable utilities, and addressing concerns related to traders and illegal Afghan refugees were emphasized.

Caretaker Commerce Minister Ejaz also expressed optimism about potential reductions in petrol prices on October 1 due to the rupee’s appreciation and credited government measures for curbing the dollar’s rise, which is expected to have a positive impact on inflation and benefit the public.

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