*ISLAMABAD – Pakistani rupee rebounded as the dollar fell to its lowestlevel in two weeks.*
*The news broke that Pakistan secured a $6 billion aid package from theSaudis helped recovered the Pakistani Rupee.*
The dollar traded at Rs132 in the opening hours of the interbank market,down Rs1.9 from the previous day’s closing rate of Rs133.9.
It is due to the news that Saudi Arabia has agreed to provide much neededsupport to Pakistan, which is facing a balance of payment crisis and needsto shore up its dollar reserves.
Since taking charge this August, the PTI government has been trying to seekhelp from friendly countries to avoid a default on foreign payments. Aftermuch delay, the government formally requested the IMF for assistance, butalso sped up efforts to secure dollar loans from friendly countries such asChina and Saudi Arabia.