SBP's Akhtar warns speculators of punitive steps

The governor of the State Bank of Pakistan, Dr Shamshad Akhtar, announced on Sunday 10 December that while the SBP would not intervene to stabilise the rupee exchange rate, it would take punitive action against market speculators.

Speaking at a press conference a day before the opening of the country's stock markets, she said: "I have said this time and again that the state bank is not in the business of devaluing or artificially backing the currency."

"The International Monetary Fund has not a

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