According to the Forex dealers said that the US dollar in the interbank market has recorded a retreat of Rs2.61 against the rupee as soon as the Saudi Arabia promised $3 billion deposit in the State Bank of Pakistan (SBP).
It must be noted that the US Dollar yesterday made a new record of marching past the Rs175-mark against the Pak rupee has receded on the back of Saudi Crown Prince MBS’ promises of 2-pronged financial support up to $4.2 billion.
The forex dealer have cited this Saudi support for respite in rupee value, after Prime Minister Imran Khan’s visit to the Kingdom of Saudi Arabia.
During the mid-week interbank market in the day, the US Dollar has shed Rs2.61 value and is presently trading at Rs172.66.
The Prime Minister Imran Khan has thanked Crown Prince Mohammed bin Salman following the Saudi Arabian “generous gesture” of depositing $3 billion in the Pakistani central bank to support the country’s foreign exchange reserves.
The Premier said in a tweet from his official handle that he wants to thank His Royal Highness (HRH) Prince Mohammad bin Salman for supporting Pakistan with the deposit of $3 billion in the State Bank of Pakistan and for “financing refined petroleum product with $1.2 bn”.
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