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Fluctuations in the value of the rupee, but when can the State Bank intervene? The Deputy Governor made it clear

Fluctuations in the value of the rupee, but when can the State Bank intervene? The Deputy Governor…

Karachi (Web Desk) State Bank Deputy Governor Inayat Hussain has said that energy and depreciation of the rupee are the causes of inflation, due to floods, inflation has increased. According to the Deputy Governor of State Bank, State Bank does not interfere in currency. The bank will intervene in the market when there is abnormal activity in the market, the same has been done with the IMF.

The situation of inflation in the country was held in a press conference with the Minister of Finance Ayesha Ghos Pasha and the Deputy Governor State Bank Dr. Inayat. According to the Deputy Governor State Bank, inflation was 27.3 percent, inflation is not only in Pakistan but also in developed countries. He said that Most of the countries leave the currency to the market, the currency performs better on the market exchange rate, in 2019 the government of Pakistan left the exchange rate to the market.

He said that there was a difference on the dollar due to the IMF installment, the value of the rupee decreased significantly in May, June and July, on July 28, the dollar went to 240 rupees and the dollar decreased by 26 rupees with the news of the IMF agreement. .

He further said that administrative measures were taken to stop the depreciation of the rupee, some restrictions were imposed which they did not want to be imposed, import restrictions were imposed on vehicles, vehicle parts, mobile phones.

It should be noted that the rupee continues to depreciate against the dollar in the country and even today, the dollar has become more expensive by 96 paisa at the end of the business and ended at 236.84 rupees.

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