Dollar further slips by 23 paisa in interbank

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On Thursday, the value of US dollar decreased by 23 paisa against Pakistani Rupee in interbank market.

After the fall, dollar is being traded around Rs131.80. The buying price of dollar is Rs130.50 while selling price is Rs132.

In the past two days, the reduction in the value of dollar was recorded at Rs2.13. Furthermore, the value of dollar decreased even more, by Rs1.89 in interbank market while it was traded around Rs132. In open market its value was recorded at Rs133 after being reduced by 90 paisa.

The national debt was also reduced by Rs179 billion.  Hence some economic stability is foretasted due to a decrease in the value of dollar.

The reduction took place after Saudi Arabia reported US$12 billion package for Pakistan for four years, i.e $3 billion per year as balance of payment support. In this diminishing economic condition, an MoU was signed by Finance Minister, Asad Umar and his Saudi equivalent. Riyadh is planning to place a deposit of US$3 billion for a duration of one year as balance of payment support.