KARACHI: The rupee weakened against the dollar in the interbank market, while the value of the dollar remained stable in the open market.
Treasury research institute “Trace Mark” predicted that the current account deficit will decrease at a higher rate than expected, the inflation rate will decrease and the supply will improve, the value of the dollar will soon fall below 277 rupees in the interbank market on Monday as well. The rupee has been pegged against the dollar.
Due to factors such as the green signal related to the staff level agreement between Pakistan and the IMF team for the final tranche worth 1.1 billion dollars, the value of the dollar fell by 34 paise to 278 rupees 40 paise during the business hours in the interbank market. had also reached the level, however, as the supply improved, as a result of the increase in the demand of the market forces, at the end of the business, the interbank rate of the dollar closed at the level of 278 rupees 63 paise with a decrease of 11 paise. However, on the contrary, the dollar in the open currency market The value remained unchanged at Rs 281 20 paise.
The finance minister’s strategy of using alternative sources to overcome the financial crisis faced by the country and the reports of submitting a request for a new package of 8 billion dollars for Pakistan at the annual meeting of the IMF and the World Bank in April 2024 are also reported. It helps in stability. Exporters have also continued to sell their export earnings in foreign exchange, which has improved the supply of foreign exchange in the market.
