The domestic currency, which has been on a rise for the past two months, had closed at Rs160.10 on Monday, according to the State Bank of Pakistan (SBP). It is hard to predict rupee’s outlook…it seems unlikely the rupee would lose value against the greenback in the short-run,” Zafar said. Pakistan announced its intention to raise debt worth around $2 billion by floating Eurobond and Sukuk in February 2021. The reserves have been fluctuating around $12 billion for the past several weeks mainly due to repayment of short-term foreign debt. G20 countries had given relaxation to debt-heavy counties, including Pakistan, to pay the loans back by December 2020.

Source: The Express Tribune November 04, 2020 03:22 UTC