Pakistani rupee bounces back as US dollar drops to Rs227

Pakistani rupee bounces back as US dollar drops to Rs227

As Pakistan managed to stop its rising import bill in July, the US dollar lost more ground versus the Pakistani rupee in intraday activity on the interbank market. Today doller price in pakistan.

Pakistani rupee continues to sustain heavy losses against dollar, hovers at all-time low of 272

The dollar price versus the rupee fell by Rs11.38 during Wednesday\’s trading to Rs227. The dollar\’s interbank market closing price on Tuesday was Rs238.38.

Doller price in Pakistan

The change occurs after the local currency hit a historically low level versus the dollar due to diminishing reserves and apprehension over the potential renewal of the IMF\’s loan program.

It was announce a day earlier by Esther Perez Ruiz, the IMF\’s Resident Representative for Pakistan. That Pakistan has finally taken the final previous step necessary for the release of $1.1 billion in rescue money from the IMF under the seventh and eighth reviews, putting an end to the uncertainty.

However, the representative of the international lender noted that the IMF board meeting to release. The rescue funds for Pakistan is provisionally scheduled for late August. Provided the South Asian nation has proved its ability to provide necessary funding assurances.

According to sources, the petroleum development levy was Rs. 10 per liter on gasoline and Rs. 5 on HSD, kerosene, and LDO as of July 31.

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