Rupee strengthens against dollar after Saudi support
KSA had announced $3 billion for Pakistan in form of Support Fund yesterday.
Pakistani rupee has started getting stronger against the US dollar in the inter bank market as the greenback depreciated by Rs1.52.
According to market sources, the dollar fell by Rs1.52 to Rs 173.75 in the inter bank market with the support of Saudi Arabia.
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It is to be noted that the dollar had continued its high flight in the inter bank market yesterday and had jumped to Rs175.
It should be noted that Saudi Arabia had announced $3 billion for Pakistan in the form of support Fund yesterday.
Federal Minister Fawad Chaudhry wrote in a message on social networking site Twitter: “Saudi Arabia has announced $3 billion Support Fund for Pakistan. The money will be sent to the State Bank of Pakistan.”
Breaking news
Saudi Arabia announcement support Pakistan with 3 billion US dollar as deposit in Pakistan central bank
and also financing refined petroleum prodcut with 1. 2 billion us dollars during the year https://t.co/z2izW1avIT https://t.co/z2izW1avIT— Ch Fawad Hussain (@fawadchaudhry) October 26, 2021
Fawad Chaudhry added that this year Saudi Arabia will also finance refined petroleum products worth $1.2 billion during the year.
