Dollar moves back to Rs171.50 in intraday trading

Dollar moves back to Rs171.50 in intraday trading

KARACHI: The Pak Rupee (PKR) continued to make gains and brought down the dollar to Rs171.50 during intraday trading on Thursday.

The rupee recovered Rs3.77 against the dollar so far in the interbank foreign exchange market since the announcement of the Saudi package.

The rupee ended Rs172.78 to the dollar on October 27, 2021, after hitting an all-time low of Rs175.27 on October 26, 2021.

A day earlier the Saudi government announced to deposit $3 billion with the State Bank of Pakistan to help the country in the balance of payment.

The rupee made an all-time low of Rs175.27 on October 26, 2021 due to external payment pressure.

Currency experts said that the foreign currency market had witnessed positive sentiments throughout the day.

Saudi Arabia day before yesterday announced additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

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