ISLAMABAD, Pakistan -- In a move that could further weaken people's trust in local currency, the federal government may launch a new U.S. dollar-based saving scheme, which will entitle people to claim profits and encash saving instruments at future currency exchange rates.
Depositors would be protected from capital losses caused by any further devaluation of the rupee, which has already shed its value by more than 50% in last 1 1/2 years.
The Central Directorate of National Savings would receive deposits in Pakistan rupee but would issue the U.S. dollar-denominated certificates by converting the value of rupees on the prevailing-day exchange rate, sources in the Ministry of Finance told The Express Tribune. ...
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https://tribune.com.pk/story/2036298/1-govt-m...llar-based-s... * * *
