Times of Islamabad

US dollar in downward spiral against Pakistani Rupee

US dollar in downward spiral against Pakistani Rupee

*KARACHI: The US Dollar saw a further decline in the open market againstthe Pakistani Rupee falling a further 30 paisa.*

The dollar reached Rs 160 in open market today after a depreciation againstthe PKR, the greenback has observed steady downfall since the beginning ofthis week in the interbank and open markets.

The US dollar observed a loss of 3 paisa against the PKR bringing itoverall worth to PKR160.55 in the interbank market on july 29.

Earlier, The net addition to external public debt during fiscal year2018-19 was only $2.29 billion, which is the lowest in the last threeyears, said the Economic Affairs Division in a statement on July 26.

The total external inflows during FY 2018-19 were $10.186 billion,including grants of $330 million, while external loans obtained by thegovernment during the year were $9.85 billion with the government makingpayment of $8.94 billion on account of retirement of external debt and debtservicing.