Canada Global(Web News) The dollar remained on the back foot on Monday on expectations of $600 million from the World Bank and the Asian Infrastructural Investment Bank to improve Pakistan’s economy and $400 million from the World Bank for flood relief.
According to market reports, the value of the dollar further decreased today and the interbank rate of the dollar fell below Rs 277, but the open rate remained at Rs 277. The value of the dollar has decreased for the third consecutive day. This shows that the rupee has entered a stabilization phase against the dollar.
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During the business period in the interbank market, the value of the dollar fell by Rs 1 14 paise to Rs 276 48 paisa at one time, but in view of the demand, the interbank rate of the dollar closed at Rs 276 83 paise after the decrease. In contrast to 79 paise, the value of the dollar remained at 277 rupees in the open currency market.
Market circles say that the depreciation of the dollar will continue in a phased manner in the coming days and the dollar is predicted to fall to Rs 260-265 if the economy moves in the right direction.
