Rise in dollar rate does not make a difference: Fawad Chaudhry

LONDON, Dec 06 (INP): Fluctuation in dollar’s rate does not make a difference, said Minister for Information and Broadcasting Fawad Chaudhry.

While speaking to mediamen in London, the federal minister remarked, “It does not matter if the dollar price increases. The nation wants chickens who ate golden eggs to be held accountable.”

Referring to former president Asif Ali Zardari and ousted premier Nawaz Sharif, Fawad criticized that these leaders “ate golden eggs” and now they were lecturing the government on economy. “Nawaz Sharif and Zardari have fought their last elections and now there is nothing left for them,” the minister added. Lately, in a historic surge on November 30, the value of the dollar shot up by Rs8 in the interbank market resulting the dollar rate to reach up to Rs 142 against Rs 134 trading on November 29. The current account deficit was said to be reason behind the fresh surge. However, the rupee recovered against the dollar in the open market on December 3 as the greenback fell by Rs 3 to Rs 136. Commenting on a latest drop, experts said the appreciation of rupee is a temporary phenomenon, and it could depreciate again in view of foreign loan payments the government was about to undertake. INP/AJ