Foreign exchange

Central bank confirmed development, increase resulted from receipt of official Government of Pakistan’s inflows

Hits one-week high, closes at Rs284.42 against greenback

Local currency recovered to Rs284.25 per US dollar, ending its four days losing streak

Importers panic buy US dollars while supply of foreign currency in the interbank market is low

Amends foreign exchange manual that also permits withdrawal of investment

Move to help stabilise forex reserves, avert imminent default on external debt

Net FDI was $2.6b in 2019-20 which declined to only $1.87b in 2021-22

Businesses are bearing the brunt of the foreign exchange shortage

Central bank gives no reason for increase to $4.6 billion

Businesses outcry dollar constraint as LSMs, exporters suffer a shortage of raw material