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Interbank USD rate drops by Rs 4.7

Dollar-to-rupee trading at a rate of Rs 207.23, or Rs 4.7 less than the previous day’s closing rate, helped the interbank dollar rate to rise significantly today.

Dollar-to-rupee trading at a rate of Rs 207.23, or Rs 4.7 less than the previous day’s closing rate, helped the interbank dollar rate to rise significantly today.

It was reported that the State Bank of Pakistan “clarified yesterday that the banks have no insufficiency of dollars.”

“The payment of dollars is taking place.”

“Pakistan’s agreements with the IMF have reduced the interbank rate,” he noted, “positive news about a $2 billion investment in Pakistan was also received from China.”

Pakistan and the International Monetary Fund agreed on budget measures for 2022-23 on June 22. Negotiations saw some significant progress, although the IMF loan was conditional on Pakistan achieving specific macroeconomic targets.

In the open market, the dollar is being traded for Rs 210.

Aimen Bukhari
Written By

Works at The Truth International Magazine. My area of interest includes international relations, peace & conflict studies, qualitative & quantitative research in social sciences, and world politics. Reach@ aimen.bukhari@tti.org.pk

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