Pakistani Rupee Got Stronger After Approval of IMF Agreement



Pakistani Rupee

News Desk: The IMF Executive Board approved Pakistan’s stand-by agreement after which there was a sharp decline in the dollar price in Pakistan today.

The value of the dollar continued to decline for the last three days and on Thursday the price of the dollar dropped by 5 rupees 47 paisa in the interbank market, bringing the dollar down to the level of 272 rupees.

Fluctuation trend started in the interbank market and the dollar rate decreased by Rs 2 61 paisas to Rs 274 86 paisa while in the open market the dollar decreased by Rs 2 to Rs 279.

Later the dollar rate closed at 276 rupees 46 paisa on Thursday, and in the open market it closed at the level of 280 rupees with a decrease of one rupee.

It should be noted that the value of the dollar dropped below 278 rupees in the interbank market yesterday, while the dollar was at the level of 281 rupees in the open market.

After Saudi Arabia transferred $2 billion to Pakistan and the United Arab Emirates transferred $1 billion to the State Bank yesterday, the value of the rupee continues to rise, while at the same time the IMF Executive Board also approved a deal worth three billion dollars for Pakistan.

Updated: July 29, 2023 — 4:27 am

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