August 25, 2021 (MLN): The Pakistani Rupee (PKR) has slumped by 65 paisa against the US dollar (USD) so far in the interbank market today.
The dollar was being quoted at 165.85/165.90 (11:55 PST) while the local currency on Tuesday had closed the trade at 165.2 per USD.
After receiving $2.75 billion from IMF under new SDR allocation, the market expected that PKR will stabilize. According to former Treasury Head at Chase Manhattan Bank, Asad Rizvi, the State Bank of Pakistan (SBP)’s version is very clear; it is the demand-supply factor that determines the Exchange rate.
Copyright Mettis Link News
Posted on: 2021-08-25T11:49:00+05:00
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