Dollar continues to gain value, reaches Rs164.08

In line with the recent trend, the value of US dollar continued to surge on Tuesday, as the greenback rose by another 81 paisas to close at Rs164.08.

According to reports, the greenback has surged by Rs4 in the last four trading sessions.

In March, the first full month of lockdown, remittances to Pakistan were down 5pc and it may worsen as global financial institutions have predicted a 20pc dip in foreign remittances.

Pakistan’s exports plunged 24pc in April.

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Exports and remittances are the two main sources of earning dollars for Pakistan and the outlook for both is negative. The investment outlook isn’t good either.

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