Pakistan foreign debt massively reduce by Rs 1900 billion
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The series of increases in the value of the rupee against the dollar continues. The dollar reached its lowest level in a month, trading at 291.76 rupees in the interbank market, while in the open market, it dropped to a minimum of 293.50 rupees.
According to State Bank, the US dollar became cheaper by 13 paise in the interbank market during the 13th consecutive business day, with its value dropping to 291.76 rupees. In the interbank market, the dollar fell from 292.78 rupees to close at 291.76 rupees.
After a 5% improvement in the rupee's value in the interbank market, the dollar has fallen below 292 rupees, resulting in a reduction of Rs 1900 billion in the burden of external debt on the Pakistan.
Experts believe that this reduction in the value of the dollar will lead to a decrease in import costs and a slower pace of inflation.
