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Gov’t Meets Another IMF Condition on Dollar Handling

The government has done another thing that the IMF wanted. They made sure the cost of dollars is almost the same in two different places: the bank and the open market. They did this so that the price gap is only 1.25%. Gov't Meets Another IMF Condition on Dollar Handling

In simpler words, if you want to buy a dollar, it will cost you Rs 307 in a place like a shop and Rs 305 in a bank. So, the price is very close, and that’s a good thing.

Also, other currencies like the Euro and the British pound have gotten cheaper. For example, you can now buy a Euro for Rs 332, which is Rs 3 less than before.

The Saudi money, called the riyal, also became a bit cheaper, and so did the money from the UAE, known as the dirham.

This all means that the IMF is happy because the government has made the dollar and other currencies stable. Before, the price difference was big, but now it’s really small, even less than what the IMF wanted.

Muhammad Sajjad
Muhammad Sajjadhttps://newspress.pk
Hi! Guys my name is Muhammad Sajjad and I'm working on Newspress to share latest updates for users.
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