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Depreciation of rupee benefitted overseas Pakistanis, says Reza Baqir

Depreciation of rupee benefitted overseas Pakistanis, says Reza Baqir
October 21, 2021 --- Web Desk

LONDO (92 News) – State Bank of Pakistan Governor Reza Baqir has said that the depreciation of the rupee has benefitted overseas Pakistanis.

Addressing the Roshan Digital Account ceremony on Thursday, the nation will soon hear a good news about the deal with the IMF.

He said that the inflation is due to an increase in the purchase of foreign items. "However, the foreign reserves have increased to US$19 billion from US$7 billion," he added.

The SBP governor said that the inflation is temporary and the matters will improve soon. "The income has also increased by four percent as compared to inflation," he said.

Reacting to the statement of SBP Governor Raza Baqir, PML-N leader Ahsan Iqbal said that statement of Reza Baqir is regrettable.

"It is not known which kind of economy is being taught by the governor. It is mandatory for investment to have a stable currency," he added.