Karachi: By leaving the determination of the exchange rate to market forces, the dollar was uncontrollable last week, the rupee was hit by the payments of import and foreign loans, due to the continuous rapid flight, the dollar’s interbank rate was 301 and the open rate was at the highest level of 314 rupees. but came
According to Express News, controlling the flight of the dollar proved to be the most difficult challenge last week, the demand for the dollar increased due to the opening of new import LCs, the pressure of clearance of stranded containers also remained, the dollar, pound, euro, dirham in the weekly business. And the value of the Rial increased while the difference between the interbank and open rate of the dollar increased to 13 rupees.
The activation of the gray market reduced the inflow of remittances through the legal channel. During the weekly trading, the dollar increased by 5.23 rupees to close at 301 rupees in the interbank market, while the dollar value increased by 12 rupees to 314 rupees in the open currency market. Rs.
Similarly, the interbank rate of the British pound increased by 2.82 rupees to 378.87 rupees, while the value of the British pound increased by 13 rupees to 398 rupees in the open market.
The value of the euro rose by Rs 3.21 to Rs 324.81 in the interbank market, while the value of the euro rose by Rs 11 to Rs 339 in the open market. The value of Rial increased by Rs. 1.37 to close at Rs. 80.23 in the interbank market, while the Rial increased by Rs. 3.50 to close at Rs. 84 in the open market.
The value of the dirham increased by Rs 1.42 to Rs 81.94 in the interbank market, while the value of the dirham increased by Rs 3.50 to Rs 87 in the open market.
The public’s morale was also affected by the government’s foreign exchange reserves falling below 8 billion dollars, the increasing value of the dollar against other currencies at the global level also affected the rupee, the current account deficit was also in surplus, despite the limited supply of the dollar. Key demand remained, due to concerns about the economic future, investment trend in dollars remained dominant, forecasts of dollar value increase in the future also remained.
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