SBP ready to take needed actions amid COVID-19 crisis

Keeping in view financial fall outs due to the coronavirus pandemic, the State Bank of Pakistan Governor Reza Baqir has vowed to take action to assist the financial markets. 

“The current market volatility in Pakistan is externally driven and the strengthening in the fundamentals of Pakistan’s economy that drove the improvement in Pakistan markets before the outbreak of coronavirus remains intact,” SBP Governor Reza Baqir said in an email, Bloomberg reported.

The central bank “is monitoring the situation closely and remains ready to take any actions needed to address disorderly market conditions,” he said. The central bank “is committed to a market-based exchange rate and intervenes when necessary to address disorderly market conditions,” Baqir added.

 

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