Dollar Rate Expected to Fall Further
After receiving the money from the IMF, it is expected Dollar Rate between 250 and 260. Pakistan Forex Exchange Association President Malik Bustan
It has been predicted that after Pakistan receives money from the IMF, the value of the dollar will reach between Rs 250 and Rs 260. Pakistan Forex Exchange Association President Malik Bustan says the value of the dollar will decline further in the near future, from 260 to Rs.
Malik Bustan says Pakistan will get money from the IMF soon. The United Arab Emirates are also expected to invest billions of dollars. According to him, the continuous decline in the value of the dollar has not sat well with banks or market players. The measures adopted within the framework of the SIFC are positive for the economy.
Pakistan is also expected to invest billions of dollars in the UAE.
Likewise, the price of gold continues to fluctuate in the world market. Due to the decline in the price of gold in the world market, there has been a significant decline in prices in Pakistan; the price of gold per tola in the country has decreased by 3 thousand rupees. Today, after the reduction in the gold price per tola, the new price has become 2 lakh 15 thousand 600 rupees. Likewise, the price of ten grams of gold decreased by Rs 2,572.
After which, the new price became one lakh, 84 thousand, 842 rupees. It should be remembered that the price of an ounce of gold reached the level of 2004 dollars due to the decrease of 26 dollars in the price of gold in the world market. Furthermore, overseas Pakistanis sent foreign exchange worth $2.3 billion in November, 3.6% less than the same month last year. According to the State Bank, in the first five months of this year, the financial volume of workers’ remittances amounted to eleven billion dollars. According to the State Bank, during November, four million dollars were received from Saudi Arabia, forty-one million dollars from the United Arab Emirates, thirty-four million dollars from the United Kingdom, and twenty-six million dollars from the United States.