The value of the dollar fell in the open market and interbank

Karachi: In the currency market, the value of the dollar continued to fall against the rupee, with the dollar falling further by 24 paisa to 220.64 rupees in the interbank exchange.

The dollar value at one point was recorded as high as Rs 220.56 on the payment of import letters of credits opened during the business period worth up to one lakh dollars.

On the other hand, the dollar closed at the level of 226.50 rupees with a decrease of 50 paise in the open currency market.

According to economists, the yield of Pakistani Eurobonds in the global market fell to 104% from 145% and the possible more serious investment by China in refinery and CPEC led to dollar depreciation on Tuesday.

The rupee is heading for stability again thanks to the measures decided by the finance minister in the meeting with banks and exchange companies last week.

Analysts say that the decline in exports, increase in the inflation rate and decline in remittances are also forecast.

In the market, the rupee is seen strengthening against the dollar as a result of the Prime Minister’s visit to India, which will see billions of dollars more investment from China and expectations of a $6.3 billion loan rollover.

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