World

The Reason Behind Historic Decline in the Dollar’s Value

Dollar Vs Pakistani Rupee

Saudi Arabia has given half a billion dollar loan to the Prime Minister of Pakistan Nawaz sharif because of that the historic decline has come in the dollar’s value.

Foreign News Agency revealed in a report that Saudi Arabia’s recent half-billion dollar loan was given to Pakistan for improve the country’s economic situation for the payment of foreign debts, and to complete the major energy and infrastructure projects.

According to thr news agency, A Pakistani official said on condition of anonymity that the loan was given to Prime Minister Nawaz Sharif’s personal guarantee, which increased the value of money.

Speaking to the news agency another senior official from Lahore said, the amount has been transferred from friendly countries like Saudi Arabia and United Arab Emirates in an account named “Pakistan Development Fund”. Overall, Pakistan pledged to provide $ 3 billion, recently received $ 750 million of them, after that, Pakistan has got overall half billion dollars so far.

It should be clear that after getting the loan from Saudi Arabia,Since 4 March in Pakistan the United States currency have dropped from $ 105.40 on RS. 98.

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