US dollar erodes more value of Pakistani rupee

Published: 10:46 AM, 22 Dec, 2022
Business
US dollar erodes more value of Pakistani rupee
Caption: Representational image.

The mighty US dollar marched ahead eroding more value of Pakistani rupee in the interbank market on Thursday, reported 24NewsHD TV channel.

The cornered local currency lost another three paisas to the greenback and concluded the trade at Rs225.43, the forex dealers said.

On Wednesday, the US dollar concluded the business at Rs225.40.

The rampant US dollar reflects the fragile economic situation which the Pakistani authorities were dealing with to arrest the depleting forex reserves.

In the latest of a set of steps taken by the authorities is the Roshan Pension Plan for overseas Pakistanis which the State Bank of Pakistan (SBP) has launched to digitally and remotely contribute to the scheme to financially secure their post-retirement life of the expats in Pakistan.

Through RPP, the overseas can enjoy an exclusive pension plan with zero front-end load and back-end fee and minimal fund management fee of up to 1.5%. The Roshan Pension Plan is a self-contributory defined contribution pension scheme open to all NRP Rupee Value Account (NRVA) holders 18 - 70 years of age. 

Reporter Ashraf Khan

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