Government Manages to reduce the country’s external debt

  • The government has succeeded in reducing the country’s external debt by more than Rs 1,000 billion in a few months.
  • The dollar, which had crossed the Rs 168 level in the last few months, has now fallen by more than Rs 10 to Rs 158.
  • Rupee has appreciated by 3.1% since October, making it the third-best performing currency after Indonesia and South Korea.

 Government has managed to reduce the country's external debt

Reduction in  the country’s external debt

The government has borrowed more than Rs 1,000 billion in a few months.

The government has succeeded in reducing the country’s external debt by more than Rs 1,000 billion in a few months. According to details, a special report has been presented by senior journalist Kamran Khan regarding the sharp fall in the value of US dollar and appreciation of Pakistani rupee in the country. According to a senior journalist, Pakistan’s external debt burden has also eased due to the continuous depreciation of the dollar.

The dollar, which had crossed the Rs 168 level in the last few months, has now fallen by more than Rs 10 to Rs 158. Over the past few months, due to effective government economic measures, the dollar has depreciated by up to Rs. 10 and the appreciation of the Pakistani rupee has reduced the external debt burden by more than Rs. 1000 billion.

With regard to the value of the dollar, economists have predicted that the value of the US currency in Pakistan will reach the level of Rs 155. It has been reported that the country’s foreign exchange reserves have stabilized due to record increase in remittances and reduction in trade deficit, which is why the Pakistani rupee has also strengthened. On the other hand, according to a report, the Pakistani rupee has become one of the best performing currencies in the region.

According to foreign media reports, the rupee has appreciated by 3.1% since October, making it the third-best performing currency after Indonesia and South Korea. The rupee continued to appreciate on the back of declining global dollar, sharp depreciation by exporters and improved remittances. The US currency has depreciated by about Rs 10 on the interbank market since the record high of 43 paise. The open market is available to the public at Rs 158.80 per dollar.

Also checkout : Pakistani Rupee Is One Of The Best Performing Currencies In The Region

Facebook Comments

comments

Comments are closed.