Decline comes ahead of expected 0.1-1.5% contraction in economy

Experts predict SBP may slash interest rate by another 100-300bps

Move follows aggressive cut in interest rate by central bank

Gap narrows to just $6m in March due to fall in imports amid Covid-19

Moody’s says Pakistan’s GDP growth will shrink by 0.1-0.5% in FY20

State Bank of Pakistan believes it will strengthen financial institutions’ capacity to absorb losses

Inflows push forex reserves to one-month high

Islamabad did not place any oil import orders as its storage is full

Help rupee to recover Rs2.37 to 161.12 in inter-bank market

Appreciation was seen after international oil traded negative on May futures