KARACHI: The dollar depreciated in the interbank market on Thursday due to reports of the government closing the fiscal gap of $2 billion and the Governor State Bank’s claim that the IMF Executive Board approved a new loan program for Pakistan in September. Suffered.
In order to cover the financial gap, the government is reported to receive crude oil worth $1.2 billion from Saudi Arabia on deferred payments, the IMF’s condition of not creating new economic zones, and $27 million in local treasury bills. Despite fluctuations throughout the business cycle from foreign investments to the interbank market, the dollar continued to depreciate.
At one point, the value of the dollar had fallen by 27 paisa to the level of 278 rupees 27 paisa. On the contrary, the dollar remained unchanged at the level of 280 rupees 85 paise due to balanced supply and demand in the open currency market.
