No need for further devaluation of rupee, says Asad Umar

Finance Minister Asad Umar said that Pakistan rupee stands at equilibrium while speaking at Pakistan Stock Exchange through video link from Islamabad on Friday.

He clarified that International Monetary Fund has made no demand for rupee devaluation. The rupee was overvalued at Rs127 in January and now the rupee is standing at equilibrium, the minister added.

"Stop circulating rumors about further depreciation of Pakistan rupee," the finance minister said. Umar continued that people should not invest their money in dollar. They should invest in stock market. The government will introduce measures in next budget shared the minister.