Finance Minister presiding over a meeting with representatives of FOREX Association at SBP. PHOTO: INP
Finance Minister Ishaq Dar chaired a meeting with representatives of the Exchange Companies here on Thursday, discussing ways in which speculative pressure on the currency could be curbed.
The rupee has faced some pressure in recent weeks, with the State Bank of Pakistan (SBP) blaming the recent weakening of the currency on analysts and media reports. SBP Governor Ashraf Mahmood Wathra and other central bank officials also attended the meeting.
The representatives of exchange companies briefed Dar about the issues faced by them and also discussed in detail the trends and developments in the foreign exchange market. The meeting noted that the external account of Pakistan is stable on the back of lower commodity prices and continued support from international financial institutions. As a result of these developments foreign exchange reserves have reached an all-time high level of $20.44 billion.
Published in The Express Tribune, December 4th, 2015.
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