Dollar drops down to Rs 163.58 in interbank as rupee makes a quick recovery

The dollar value has dropped by 3 rupees 38 paise after financial support from global financial institutions, according to the specifications.  After that, the value of the dollar in the Interbank has reached Rs 163

It has been reported that the value of the rupee has seen improvement after financial support from other institutions including the IMF. With the decrease in the value of the dollar, the stock market in Pakistan is also seeing improvement. 

Funds approved at the Executive Board Meeting of the IMF to tackle the Coronavirus.  The IMF statement said Corona had “significant impacts on Pakistan’s economy and the government of Pakistan took swift action to curb the spread of the Coronavirus,

For this purpose, an economic package was also announced and the government is increasing the expenditure on public health. According to the information, Pakistan’s economic condition is suffering due to coronavirus, which is why Pakistan needs external financing. 

The Global Monetary Fund says a $1.38 billion package will improve Pakistan’s foreign exchange reserves, the package will meet budget requirements and help Pakistan overcome its foreign exchange reserves.  These funds have been given to Pakistan to deal with the Coronavirus.  The economy has seen improvement since the IMF’s decision to fund it, reducing the dollar’s value by three rupees 38 paise.

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