Apropos a news item 'Arrangements made for timely payment to IMF: Yaseen' carried by Business Recorder on Friday, SBP has clarified that State Bank of Pakistan Governor Yaseen Anwar while talking to media in Karachi Thursday, had said that "the SBP had not intervened in the market recently and had let the market forces direct the exchange rate thus far".
He had not said that "the State Bank will not intervene in the market to stabilise the Pak rupee against the dollar", as mentioned in the report. Moreover, the SBP Governor did mention about currency swap agreement with Turkey while talking to media, but it was in a different context. The manner in which it was reported in your newspaper is out of context. He did say that Pakistan has made all arrangements for foreign payments for FY12, but in this context, he had not mentioned that the recently currency swap agreement with Turkey was a part of these measures.
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