KARACHI: The Forex Exchange Dealers Association chairman Malik Bostan has said that the value of the Pakistani Rupee has increased over Rs10 in the interbank.
Bostan said that the increase in the value of the local unit has set a record.
“People who were talking about Pakistan’s default are now disappointed,” he added.
He said that Prime Minister Shehbaz Sharif has given a clean bill to the bettors, the value of the rupee will improve further in the coming time.
Malik Bostan said after receiving money from the International Monetary Fund (IMF), the value of the rupee will fall below Rs245.
On the other hand, Secretary General of Exchange Companies Association chairman Zafar Paracha, said that after the agreement with the IMF, there has been a good impact on the economy.
He said investors’ confidence has been restored and now there is a hope that foreign investment will also come in the country.
“But it remains to be seen how far we can control the rate,” he added. Paracha said, “Pakistan’s economy will have problems in the long run because we have to payback about $50 to $55 billion in the three years,” he added.
