USD to PKR dropped on Wednesday after prime minister Imran Khan warned to take action against those dumping the United States dollars. US dollar rose upto 146.25 against Pakistani rupees on Wednesday morning. But after the cabinet meeting in Noon, PM Imran Khan warned that they will take action against those who are dumping the USD and causing hike in its price. After his warning USD dropped for 2.25 rupees in two hours and came back to mentioned price of 144 Rupees.
Prime minister Imran Khan asked the reasons of USD price hike in the meeting. Chairman Exchange companies association was present in the meeting along with governor State Bank of Pakistan. Chairman FBR DG FIA and DG IB were also present in the meeting. Imran Khan asked for the reason of sudden hike in USD rate against PKR. Chairman Exchange companies association Malik Bosan told pm that people start buying USD after news of IMF deal.
PM said after his meeting that ” Action will be taken on hiking the price of USD in open markets”.
Today on Wenesday, USD against PKR touched 146.25 in open market…
Just after the $ shoot news breaks in PM’s Secretariat ; A meeting was called on to oversee this matter & PM ordered to crackdown on the… https://t.co/wipsnX1D49
— Muhammad Sami (@msami_05) May 15, 2019
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