Dollar Losses Grip Against PKR

KARACHI: The dollar was further depreciated against Pakistani rupee at the outset of today's trading on the open market, according to Thursday's reports.

The dollar has dropped against the PKR by ten paisa in Pakistan.

In the open market, the dollar is now at Rs 159.60.

As stated yesterday, the US Dollar saw another 30 paisa drop in the open market against the Pakistani Rupee.

Today after a depreciation against the PKR, the dollar achieved RS. 160, a continuous fall in interbank and open markets since the start of this week.

 


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The US dollar recorded a reduction of only 3 paise compared to PKR earliest in all, according to the Economic Affairs Division in a declaration of 26 July, the total contribution to external public debt in 2016-19 was only USD $2.29 billion, which is the lowest in recent three years.

Total external inflows over the 2018-19 FY was $10.186 billion, including 330 million dollars for grants, while government external loans received over the year amounted to $9.85 billion with government payments of $8.94 billion for the external debt and debt service withdrawals.

“The net addition to the external public debt was only $2.29 billion which is the lowest of last three years,” reads the statement.

In the last three fiscal years, it stated that net improvements to government foreign debt, i.e. The figure was 6.82 billion dollars, 4.77 billion dollars, and 8.64 billion dollars for fiscal year 2015–16 to the FY 2017-18.

The Economic Affairs Division also stated that during fiscal year 2018-2018 ADB and World Bank spent 541,17 and 652,75 million dollars respectively compared with 945,69 and 817,54 million dollars during financial year 2017-2018.


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