Karachi: The government’s interest rate hike and other related measures in the past few days have raised hopes of a revival of the IMF program in both foreign exchange markets, which kept the dollar on the back foot on Tuesday.
The interbank rate of the dollar fell below Rs 286, while the open rate remained at the level of Rs 290. In the interbank market, the dollar lost 71 paise to close at the level of Rs 285.99.
Similarly, in the open currency market, the value of the dollar decreased by one rupee and closed at the level of 290 rupees.
Experts say that in case the IMF’s reservations are removed by the government and the loan program is restored, in addition to the release of $1.2 billion from the IMF, $3 to $4 billion will be released from China, the United Arab Emirates, and Saudi Arabia. can be
Apart from this, 3 to 4 billion dollars can be released in the next 6 to 8 months from Asian Development Bank, World Bank and other international financial institutions.
The release of conditional funds from the IMF program will improve supply which will stabilize the value of the Pakistani rupee.
(function(d, s, id){
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) {return;}
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.3&appId=770767426360150”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_GB/sdk.js#xfbml=1&version=v2.7”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));