Karachi (HRNW) The US dollar has depreciated further, hitting a record low۔ According to details the US dollar was traded for as low as Rs151.50 in the interbank market as Pakistan achieved the target of selling Euro bonds worth $2.5 billion Wednesday. The dollar rate stood at Rs152.8 by the end of the day.
The country is also receiving $500 million after resumption of the IMF programme, $1.3 million from the World Bank and $300 million approved by the Asian Development Bank.
The last time dollar sold below this level was in June 2019.
“Pakistan’s financing line is strong in coming years,” said Malik Bostan, the Forex Association of Pakistan chairperson. “The reserves will get better and that’s strengthening rupee.”
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