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Currency Value Decrease

  • After the dollar, the prices of the Saudi Riyal and the UAE dirham also dropped a lot in a single day.
    According to the details, on Tuesday, apart from the dollar, the value of the euro, pound, UAE dirham and Saudi riyal has also been decreased. The Saudi riyal fell by Rs 3.70 and now Rs 71.70, while the UAE dirham also fell by Rs 6.30 and now Rs 72.70.
    Similarly, the price of pound decreased by Rs. 13 and now Rs. 355 and the price of Euro decreased by Rs. 8 and now Rs. 305.
    It should be noted that after the staff level agreement between the IMF and Pakistan, there has been a huge drop in the value of the dollar in the interbank and open markets in 2 days.
    On Tuesday, on the first business day after Eid, the interbank rate of the dollar decreased by another 10 rupees 55 paisa.
  • At the end of the business day, the interbank price of the dollar fell to 275.44. While the value of the dollar continues to fall in the open market.
    The price of the US currency fell by a total of 11 rupees in two days, after which the price of the dollar reached 279 rupees in the open market when the market closed on Tuesday.
    In this regard, Chairman Exchange Association of Pakistan Malik Bustan says that “After the IMF agreement, the tendency to sell dollars is increasing due to the stabilization of the value of the rupee.”
    As soon as Pakistan has signed an agreement with the IMF, the rate of the dollar has come down. He has claimed that the dollar may go up to 250 rupees.
    Bloomberg is also saying that the Pakistani rupee may go up to 240.

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