Federal Minister for Finance Senator Ishaq Dar devalued the US dollar to Rs270 against the rupee.
However, according to Forex.pk the dollar was being sold at Rs287.15 and purchased at Rs282.9.
On the first day of the new financial year on Monday, the value of the rupee against the dollar saw a big appreciation. However, the Finance Minister Ishaq Dar gave different rates of the dollar.
In a tweet, Ishaq Dar expressed gratitude for the extraordinary increase in the Pakistan Stock Exchange’s 100 index and wrote, “Alhamdulillah mubrook, the PSX 100 index has increased by 2334 points.
Ishaq Dar also said that the inflation rate in the country is at 29.4 percent, which was 38 percent in May 2023. He also quoted the dollar rate as, “Pak Rupee vs Dollar in open Market @270/272.”
It should be noted that as soon as the business week started today, the dollar has come down by Rs 5 to Rs 285 in the open market.
However, regarding the value of the dollar, the Finance Minister claimed in his tweet that the dollar has come down to 270 and 272 in the open market.