Ishaq Dar’s swearing-in as Acting Minister further weakened the US dollar.
At one point in the interbank, the dollar further fell by Rs 2 41 paise to Rs 231 50 paise, while at the end of the business day, the US dollar closed at Rs 232 12 paise after falling by 77 paise.
In four days, the dollar has become cheaper by more than 8 rupees and Pakistan’s debt burden has been reduced by 1050 billion rupees.
President Arif Alvi administered the oath of office of the Federal Minister to Finance Minister Ishaq Dar, Prime Minister Shehbaz Sharif and federal ministers also participated in the ceremony.
Nawaz Sharif has given Ishaq Dar the difficult task of controlling uncontrollable inflation, declining economy and dwindling foreign exchange reserves.