Won’t allow manipulation of exchange rate: Ishaq Dar

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ISLAMABAD: Newly sworn-in Finance Minister Ishaq Dar said strengthening of rupee value would be his top priority, followed by reducing the inflation and interest rates in order of priority, to revive the economy.

Speaking to journalists outside the ministry office, where he came after taking oath of the office, the fourth time minister for finance and revenue said nobody would be allowed to play with the exchange rate.

“This is not the right place where rupee stands at present,” he said, adding that he knew some speculators were involved in this game that they should stop forthwith. He said he was happy that speculators had already made corrections in two days and improvement in rupee value had reduced the debt worth billions of rupees. “The speculators should set their direction right. This is my top priority to strengthen rupee value. Then we have to reduce inflation and cut down interest rates because we have to revive the economy”.

He said central banks throughout the world had the role to make interventions in the market and there were standards to do that. Responding to a question he said it was big lie that PML-N government burnt dollars in the market to control exchange rate. “There were no dollars, how could one throw dollars,” he said.