Due to the pressure of import and external payments, the advance of the dollar continued on Tuesday after fluctuations.
According to Express News, in the first 4 months of this year, the remittances of overseas Pakistanis increased by 24%, the current account surplus for the third consecutive month, the increasing government reserves of foreign exchange for the 16th week, despite the positive sentiments such as the increase in Roshan digital account inflows. The dollar continued to advance in the markets.
During most of the trading period in the interbank market on Tuesday, the value of the dollar continued to decline, due to which the value of the dollar fell by 08 paisa to the level of 277 rupees 77 paisa, but in the closing moments, the demand increased. At the close of business, the interbank rate of the dollar closed at Rs 277.95 with an increase of another 10 paise.
In the open currency market, the value of the dollar also closed at the level of 278 rupees 88 paise with an increase of 06 paise.
There are also expectations in the market that the second tranche of the loan program will be released after the IMF mission reviews the Pakistani economy in March.
