Karachi: Due to the non-renewal of the IMF loan program and the freezing of more than half of the economic activities, the high flight of the dollar continued on Monday, due to which the interbank rate of the dollar exceeded 284 rupees, while the open rate increased to the level of 286 rupees. .
During the beginning of the business period, the value of the dollar in the interbank market fell by 24 paise to 281.47 rupees at one point, but due to the uncertain political and economic situation, the dollar started to fly again at a high speed after some time.
As a result, the dollar rose by 2 rupees 32 paisa to reach the level of 284.03 rupees in the interbank market at the end of the business. In the open currency market, the dollar increased by one rupee to 286 rupees.
Experts say that the IMF officials are tightening the conditions for the recovery of the loan program and the pressure on the rupee is increasing as political instability reaches its peak.
Experts say that the contradiction between the statements of the IMF and the government of Pakistan regarding the condition of the loan program to the nuclear program, the government’s focus on political activities instead of the measures to restore the economy, the economy is gradually on a ventilator. The rupee is weakening on a daily basis.
According to the experts, anxiety is increasing in the investment, commercial and industrial sectors due to these conditions, who are neither investing in the country nor making decisions related to trade and industrial activities, being ignorant about the future direction of the economy. These factors are accelerating the importance and flight of the dollar.
(function(d, s, id){
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) {return;}
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.3&appId=770767426360150”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_GB/sdk.js#xfbml=1&version=v2.7”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));