Karachi: The dollar remained steady in both foreign exchange markets on Monday due to factors such as expectations of an early staff level agreement from the IMF following the government’s approval of the revised budget.
In order to meet the conditions of the IMF, the measures of Budget 2023-24 and orders to provide foreign exchange to the banks by lifting the ban on imports were feared that if these new measures were implemented without restraint, the value of the dollar would accelerate. Will increase with speed.
The reason for this concern was that the value of available foreign exchange reserves is only 4 billion dollars while the demand is about 8 billion dollars. .
In the interbank market, the dollar closed down by 3 paise at Rs 286.70 after limited volatility, while in the open currency market, the dollar closed unchanged at Rs 291.
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