ISLAMABAD: Economist and Pakistan Tehreek-e-Insaf (PTI) leader Muzzammil Aslam has advised the citizens to sell US dollars and make money as Pakistani Rupee plummeted after exchange companies removed cap on the greenback, ARY News reported on Tuesday.
In a video statement issued on Instagram, the economist advised the exporters to sell dollars before ‘its value decreases’.
Muzzammil Aslam termed Rs270 per dollar ‘a lottery’, advising them to sell the greenback as they cannot get a ‘better rate’.
Lambasting the federal government, he said that the US dollar soared due to ‘incompetence’ of Finance Minister Ishaq Dar and Prime Minister (PM) Shehbaz Sharif.
He further said that US dollar can fall to Rs230-240, urging the exporters to sell the foreign currency and make money.
It is pertinent to mention here that the Pakistani rupee finally bounced back against the US dollar, as the local currency gained Rs1.79 in the interbank market against the greenback.
The greenback has gained Rs36.91 in the interbank market since Thursday after the Exchange Companies Association of Pakistan (Ecap) removed an unofficial cap on the exchange rate.
The last three sessions’ winning streak of the dollar was broken on Tuesday in the hopes of revival of the stalled loan programme with the International Monetary Fund (IMF).
Earlier, the Exchange Companies Association of Pakistan (ECAP) removed the cap on the US dollar in a bid to end ‘artificial’ demand in the market
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