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Tag Archives: Rupee rebounds on $4.2 billion Saudi support package

Rupee rebounds on $4.2 billion Saudi support package, gains Rs2.27 in intraday trade


October 27, 2021

The currency market bounced back on Wednesday to gain Rs2.27 against the US dollar in intra-day trading in the inter-bank market after Saudi Arabia announced a support package of $4.2 billion for Pakistan, traders and bankers said. The Saudi money will help shore up the country’s foreign reserves, which have been shrinking. The dollar was being quoted at Rs173.00/173.11 around midday. On …

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