Interbank and open market rates of the dollar decreased
Karachi:Expectations of Saudi investment of 5 to 8 billion dollars in various sectors of Pakistan, the Prime Minister’s announcement of incentives for Saudi investors and the interest of 10 buyers in the privatization of PIA led to dollar appreciation in both the foreign exchange markets on Tuesday as well. The rupee remained weak against
The dollar continued to depreciate throughout the interbank market as the external balance of payments came under control due to the import control mechanism and expected increase in inflows due to the inclusion of more national enterprises in the privatization plan. .
At one point, the value of the dollar decreased by 28 paise to Rs. 277.95 paise, but as the supply improved, the interbank rate of the dollar closed at the level of Rs. 278.11 paise at the end of the business due to the demand of the market forces. .
Similarly, due to excess supply in the open currency market, the value of the dollar decreased by 29 paise to close at the level of 279.09 paisa.
Experts say that after the arrival of the IMF mission in Pakistan this month, discussions on the new budget and new loan program are likely to stabilize the rupee.
The post Interbank and open market rates of the dollar decreased appeared first on Express Urdu.
Interbank and open market rates of the dollar decreased