Pakistan has formally requested a $10 billion exchange stabilisation facility from the United States, a move aimed at boosting its foreign exchange reserves. This development comes as Brent crude oil prices climbed 0.6% to $91.55 a barrel, driven by escalating geopolitical tensions in the Middle East and Houthi threats in the Red Sea. Domestically, the KSE-100 index shed over 400 points, reflecting negative market sentiment. The potential US facility could offer significant relief to Pakistan's economy and currency, while rising oil prices may increase import costs and inflationary pressures, potentially influencing local gold and USD/PKR rates.
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