Saudi riyal fell by Rs 3.70 to Rs 71.70, UAE dirham also fell by Rs 6.30 to Rs 72.70.




Lahore (Urdupoint newspaper latest. 04 July 2023) After the dollar, the prices of Saudi riyal and UAE dirham also decreased a lot in 1 day. According to the details, on Tuesday, apart from the dollar, the value of the euro, pound, UAE dirham and Saudi riyal has also been recorded. The Saudi riyal fell by Rs 3.70 to Rs 71.70, while the UAE dirham also fell by Rs 6.30 to Rs 72.70.

Similarly, the price of pound decreased by Rs. 13 to Rs. 355 and the price of Euro decreased by Rs. 8 to Rs. 305. It should be noted that after the staff level agreement between the IMF and Pakistan, there has been a huge drop in the value of the dollar in the interbank and open markets in 2 days. On Tuesday, on the first business day after Eid, the interbank rate of the dollar decreased by another 10 rupees 55 paise.
At the end of the business day, the interbank price of the dollar fell to 275.44. While the value of the dollar continues to fall in the open market, the price of the US currency fell by a total of 11 rupees in two days, after which the price of the dollar reached 279 rupees in the open market when the market closed on Tuesday. In this regard, Chairman Exchange Association of Pakistan Malik Bustan says that after the IMF agreement, the tendency to sell dollars is increasing due to the stabilization of the value of the rupee.

As soon as Pakistan has signed an agreement with the IMF, the rate of the dollar has come down. He has claimed that the dollar may go up to 250 rupees, Bloomberg is also saying that the Pakistani rupee may go up to 240.