If the IMF loan program is restored, the dollar crisis will decrease slightly, experts (Photo: File)
Karachi: The dollar depreciated in the interbank and open market, with the interbank rate at Rs 273.32 and the open rate at Rs 279.
On Wednesday, due to a decrease in demand compared to supply, the dollar in the interbank market had fallen by 4.03 rupees to 272.25 rupees. 273.32 to close at Rs.
In the open currency market, the value of the dollar decreased by one rupee to close at the level of 279 rupees. At the end of the business day on Tuesday, the dollar closed at Rs 276.28 in the interbank market and Rs 280 in the open market.
Experts say that in the event of the restoration of the IMF loan program, the gradual release of 10 billion dollars of funds announced by the international community and financial institutions for Pakistan will also begin, which will increase the supply of dollars in the economy. And the dollar crisis will decrease slightly.
The increase in the tendency of overseas Pakistanis to send remittances through banking channels and exporters realizing the ongoing situation by cashing their foreign exchange earnings in the market at a fast pace has led to the strengthening of the Pakistani rupee. .
The State Bank and other related institutions are closely monitoring to stop the smuggling of dollars as there are reports that an organized group of smugglers is smuggling dollars to Afghanistan through innovative methods.
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