Pakistan Rupee’s fall set to change economic landscape, foreign exchange reserves less than Cambodia?

Pak rupee dollar increased by 30 paisa in the open currency market

Pak rupee dollar increased by 30 paisa in the open currency market

Washington, Karachi … News Time

US Department of Commerce Bloomberg has expressed its concern in reducing Pakistan’s golden exchange reserves from Cambodia. Bloomberg has made Asia’s smallest economy reservoir with Cambodia’s smallest economy whose economy is 10 times smaller compared to Pakistan. Cambodia’s gold reserves are $ 11 billion, according to the report. After the $ 2 billion $ 20 million payment, the Pakistani reserves will be less than Cambodia. The report quoted the Insight Securities P v t Ltd that it is likely to reduce $ 2.2 billion in Pakistan’s reservoir reserves till June 2018. In the report, Pakistan’s current account deficit, which lasted $ 10 billion in 8 months, has been terminated for additional exports. The government has decided to sell bonds for deficit due to the rising rate interest in the global market.

The rupee of Pakistan rupees continues in front of the dollar in the local open currency market due to which the value of the dollar is increasing. According to the Forex Association of Pakistan, the local open currency market increased by 30 paisa to the rupee dollar on Tuesday, which rose from Rs 114.40 to Rs 114.70 and the sales price rose from 115.40 to 115.70 rupees. Similarly, the price of Euro increased from Rs 140.30 to 140.60 rupees and the price sales increased from Rs 142 to 142.40. However, due to lack of 80 paisa, the price of British pounds has gone down from Rs 161.10 to Rs 160.20 and the price sales fell by 162.80 rupees to 162 rupees. According to the Forex Report, on Tuesday, the price of the dollar dropped by Rs 115.50 to Rs 115.48 and the price sales fell from Rs 115.60 to Rs 115.58.

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