Summary The pressure on Pakistan's external debts released by Rs 330 billion because of USD's devaluation
KARACHI (Dunya News) – The Pakistani rupee gained value against the US dollar in both the interbank and open markets during the outgoing week.
According to details, the price of the greenback declined by Rs 3.22 in the interbank market, closing at Rs 163.57, and reduced by Rs 3.25 in the open market, closing at Rs 163.50.
The pressure on Pakistan’s external debts released by Rs 330 billion as a result of the dollar’s devaluation.
Let it be known that the State Bank of Pakistan (SBP) decreased the key interest rate by 2 percent during the outgoing week to help reduce pressure on interest payments by Rs 600 billion.
In a month period, interest rate was cut by 4.25 percent, helping in reduction of domestic debts by Rs 1300 billion.
