Dollar continues to soar, new conditions for resumption of IMF program on Tuesday also further devalued the Pakistani rupee against the dollar, for the first time in the history of the country, the dollar interbank rate exceeded 195 rupees. After doing so, it became Rs. 199.
The dollar continues to soar, the dollar has risen from Rs 195 to Rs 199, while in the open market the dollar has crossed Rs 200.
By the close of trading yesterday, the dollar had gained a total of Rs 56 paise and closed at Rs 195.74 paise.
In the open market, the dollar rose by 1 rupee 50 paise to a new record high of 198.
It should be noted that the value of US dollar against Pakistani rupee has been steadily rising for the last several months.
At the Interbank Foreign Exchange (IFEX), the US dollar remained unchanged in January this year, after rising 23 paise to 176.39 in February.
In March, the value of the dollar rose from Rs 177.41 to Rs 183.48.
According to experts, the steady decline in foreign exchange reserves has led to a record increase in the import bill, which has upset the balance of supply and demand of the dollar. Which led to the appreciation of the dollar.
It should be noted that due to the political crisis in the country, the value of the dollar is increasing rapidly.