ISLAMABAD: Pakistan’s Finance Minister Ishaq Dar said on Wednesday that recent appreciation of the rupee against the US dollar will have a positive impact on the prices of essential commodities.
Addressing a press conference held here primarily to highlight economic performance of the government during the last eight months, Dar said that the rupee’s appreciation has boosted the confidence of domestic and international investors.
But the Federal Minister shied away from giving a firm assurance that domestic petroleum prices will also ease.
In recent days Pakistani rupee has shown a remarkable recovery against the greenback on the back of some strong dollar inflows including $750 million from the Pakistan Development Fund helping the rupee to appreciate above 100-to-a-dollar level.
Another $500 million inflow is expected by the end of this month from the International Monetary Fund.
Dar said inflation is easing and that recent rupee appreciation will further help to reduce prices of the essential commodities.
Dar said that forex reserves will cross over $10 billion mark by the end of current month.