Devaluation of the dollar in interbank

Karachi: The value of the dollar in the interbank market has fallen by another 43 paise to Rs 220.40.

In the open currency market, the dollar remained unchanged at the level of 224.90 rupees. In the interbank market, a limited flight of the dollar was also seen, due t

According to experts, the dollar remained in reverse gear in the interbank on Monday due to factors such as the expectation of easy access to foreign loans and the hope of increasing foreign direct investment after the inclusion of Pakistan in the white list by the Financial Action Task Force FTIF. The dollar remained unchanged in the open market.

Economic analysts say that the Prime Minister’s efforts to roll over the debt of 6.3 billion dollars from China & the news of Saudi Arabia’s willingness to invest $12 billion in a modern petrochemical refinery in Pakistan fueled market optimism.

Similarly, with the release of one billion and 50 million dollars approved for Pakistan from the Asian Development Bank this week, the possibility of increasing the country’s foreign exchange reserves has also arisen.

On which the interbank rate of the dollar increased by 27 paisa to the level of 221.10 rupees.

Factors like FTIF’s decision to have a positive impact on the Pakistani economy, foreign investors reviving in Pakistan in a confident manner and reduction in foreign exchange crisis due to increase in foreign inflows are undermining the dollar against the rupee.