Despite the agreement with the International Monetary Fund (IMF), the value of the dollar continues to appreciate against the Pakistani currency. Currency dealers reported a significant surge in the dollar’s value by Rs1.4 on the last day of the business week, further widening the gap between the two currencies. Following this increase, the new price of the dollar in the interbank market reached 277 rupees and 50 paisas. While the interbank market experienced a notable surge, the open market witnessed a different scenario. Yesterday, the dollar experienced a slight decline of 2 rupees, reaching 278 rupees against the Pakistani rupee. The appreciation of the dollar in the interbank market reflects several factors, including global economic conditions, the country’s current account deficit, and the demand and supply dynamics of the dollar in the local market.

 
Credit : Independent News Pakistan-INP