The dollar depreciated by Rs 3.38 paise after financial support from international financial institutions. According to the details, the dollar depreciated by Rs 3.38 paise in the inter-market. After which the dollar has reached Rs 163 in the interbank market. It has been reported that the rupee has appreciated after financial assistance from other institutions including the IMF
Along with the fall in the value of the dollar, the Pakistan stock market is also witnessing an improvement, after which the 100 Index has risen by 1,500 points to the level of 32,800. Funding for the corona virus has been approved at the MF's executive board meeting. The IMF statement said that Corona has had a significant impact on the Pakistani economy and the government of Pakistan has taken immediate steps to curb the spread of the Corona virus. An economic package has also been announced for this purpose. The government is increasing spending on public health
According to the statement, Pakistan's economic situation is deteriorating due to the coronavirus, which is why Pakistan needs external financing. The International Monetary Fund says a 38 1.38 billion package should improve Pakistan's foreign exchange reserves. The package will meet the budgetary requirements and help Pakistan overcome the shortfall in foreign exchange reserves. It was further said that these funds have been given to Pakistan to deal with the corona virus. The economy has seen an improvement since the IMF's decision to provide financial assistance, causing the dollar to depreciate by Rs 3.38.
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