The Pakistan Rupee remains relatively stable against the US dollar
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| The Pakistan Rupee remains relatively stable against the US dollar |
Neighbor
fees have dropped by Rs2.70 in 16 days. The rupee has been under a lot of
pressure amid growing import/export inequalities in Pakistan.
Regardless, in the open market, the Pakistani rupee has
dropped to a record low of Rs180.70.
Here are the open market steps important financial forms on
December 16, 2021
Selling
Buying Money
USD 180.20 180.70
Saudi Riyal 47.25 47.75
UAE Dirham 49.50 50.50
UK Pondo 235.50 238.00
Euro 199.80 202.30
Japanese Yan 1.53 1.55
AUD 126.50 128.00
Computer Auxiliary Design 138.00 139.50
Chinese Yuan 27.00 28.00
Recently, the State Bank of Pakistan (SBP) increased its
spending costs by focusing on 100 sites (bps) to 9.75% in the announcement of a
financial-related plan.
Financial experts and brokers are frustrated by the local
currency crisis as the $ 3 billion debt from Saudi Arabia have not put the
issue under the dying rupee.
Pakistan's import/export inequality rose to $ 20.74b
in the first five months of the 2021-22 Fiscal Year. Improved imports by 72%
and shortages remained at $ 5.10b in November - a significant increase in
imports/exports recorded in one month.
The data suggest that this situation will remain unchanged,
Pakistan has been exporting $ 100 million worth of goods while delivering $ 260
million worth of goods and so on.
Public officials, too, have been thinking of various
measures to reduce imports, keeping in mind the heavy bonds of luxury goods.
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Malik Bostan, director of the Forex Association, says that
traders are buying dollars to open a credit card because prices are rising in
the interbank market and affecting the open market.
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