KARACHI: The dollar depreciated due to the possibility of two installments of 1.9 billion $ being released by the International Monetary Fund (IMF).
The dollar’s interbank rate and open rate also fell below Rs 206. The dollar continued to depreciate throughout the trading session.
As a result, the dollar fell further by Rs 1.28 to close at Rs 205.12 in the interbank market at the end of trading. In the open currency market, the dollar fell by Rs 1.50 to close at Rs 205.
Experts say news of funding from Japan and 107 million $ from France, as well as the ability to default on 3.5 billion $ in debt from the G20 countries and the UAE’s interest in investing in Pakistan. The rupee has strengthened against the dollar.
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