Karachi: The dollar remained on the back foot due to factors such as the imposition of taxes of Rs 170 billion through the government’s mini-budget measures, the acceptance of most of the conditions of the IMF, including the increase in the prices of petrol, gas and electricity, and the hope of reviving the IMF program. Due to which the interbank rate of the dollar fell below 265 rupees and the open rate also came to the level of 268 rupees.
Due to intermittent demand in the interbank market, fluctuations in the value of the dollar were also seen and at one point the value of the dollar decreased by 1.35 rupees to 264 rupees 3 paisa, but again due to the increase in demand, the business ended. But the interbank rate of the dollar closed at the level of 264.38 rupees with a decrease of 1 rupee.
Similarly, the dollar closed at the level of 268 rupees with a decrease of 50 paise in the open currency market. Experts said that a policy-level agreement has been reached with the IMF, which has created hope for the restoration of the loan program, after which the possibility has become strong that in the coming days, other countries and international financial institutions will New loans will also be issued and the value of the rupee will gradually recover.
There are also reports in the market that the interbank rate of the dollar will continue to fluctuate between 265 and 270 rupees as the inflows improve and there is also a possibility that the dollar’s value will decrease to 260 rupees due to the government’s policy of restricting import activities. , as the export sectors are also cashing in their foreign exchange receipts in the export market.
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