Karachi: Despite limited fluctuations in the interbank market on Wednesday, the dollar remained on the back foot, but on the contrary, due to the increasing demand of Umrah pilgrims in the open market, the value of the dollar rose again to the level of 289 rupees.
During the business period, the value of the dollar decreased by 40 paise to Rs. 283.20 at one point, but due to a slight increase in demand in the closing moments, the interbank rate of the dollar closed at the level of Rs. 283.89 with a decrease of only 1 paisa. On the contrary, in the open currency market, the value of the dollar increased by one rupee and closed at the level of 289 rupees.
Experts say that after getting a financial guarantee of 3 billion dollars from the friendly countries, the government has formulated a strategy to get another 3 billion dollars financial guarantee on the condition of the IMF, which has made it expected that after Eid-ul-Fitr, any A staff-level agreement will be reached with the IMF in due course.
Experts say that due to non-opening of letters of credit for imports of raw materials and other commodities, the economy is suffering from slowdown, which is affecting the value of the rupee and causing the trade and industrial sectors to worry about their future.
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