Saudi Arabia’s willingness to provide Pakistan with تیل 3.6 billion in oil on deferred payments over the next two years and SBP’s regulatory measures have finally stopped the dollar’s soaring in both foreign exchange markets. Decreased
According to Express-News, the rupee strengthened against the dollar in the interbank and open markets. The SBP’s imposition of additional regulatory duties on imports of 114 items and the requirement to deposit 100 percent foreign exchange for the required imports before opening the letter of credit affected the interbank market on Friday.
There was also a resurgence of dollar depreciation from exporters, which resulted in the dollar depreciating for most of the trading session. In the interbank market, the dollar lost 16 paise to close at Rs 170.47 after fluctuating, while in the open currency market, the dollar lost 90 paise to close at Rs 172.60.