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SAMAA - Dollar falls below Rs156 in Pakistan

Dollar falls below Rs156 in Pakistan The greenback value drops by Rs1 in a day SAMAA | Bilal Hussain - Posted: Mar 17, 2021 | Last Updated: 4 days ago SAMAA | Bilal Hussain Posted: Mar 17, 2021 | Last Updated: 4 days ago Photo: AFP FILE The rate of dollar dropped to Rs155.60 in the inter-bank market on Wednesday. The last time it traded below Rs156 was on March 10, 2020.   The dollar price has dropped by Rs4.30 during 2021, which shows a 2.7% change. The greenback value has decreased by 7.4% or Rs12.45 since it hit Rs168.43 in August last year. “The State Bank took several initiatives such as Roshan Digital Accounts last year during the pandemic,” said Zafar Paracha, the secretary of the Exchange Companies Association of Pakistan. “The dropping rate shows those initiatives have been bearing fruit.”

SAMAA - Dollar drops below Rs157 for first time in a year

A dollar can now be bought for Rs156.60 in the open market as the greenback rate dropped to a one-year low on Tuesday. The last time it traded below Rs157 was on March 10, 2020.   “The State Bank took several initiatives such as Roshan Digital Accounts last year during the pandemic,” said Zafar Paracha, the secretary of the Exchange Companies Association of Pakistan. “The dropping rate shows those initiatives have been bearing fruits.” Inward remittances, the foreign exchange overseas Pakistanis send to the country, have been strong, he said. These remittances stood at $18.7 billion in the first eight months of FY2021 (July to February), which was 24% higher than the sam.

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