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Rupee is at equilibrium: Finance Minister

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April 5, 2019 (MLN): Finance Minister Asad Umar while addressing a Pakistan Stock Exchange Ceremony in Karachi via video link today, has said that the Rupee is at equilibrium, quoting the State Bank of Pakistan (SBP).

Earlier, the value of Rupee had been kept high artificially, which hit the economy badly, he added.

While commenting on false speculations he said, “Stop circulating rumors that rupee would depreciate to 160 or 180, no further devaluation is required”.

In addition, he encouraged the investors to invest in stock market and said, “Investing in stock market is attractive in terms of price/earnings multiples; don’t waste your money on buying dollars”, he said adding that, the next budget would keep projecting capital market to a historic high.

He highlighted that the incumbent government has taken various difficult decisions in the larger interest of the country.

He rejected that the issue of exchange rate level was discussed with IMF.

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Posted on: 2019-04-05T11:06:00+05:00

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