Commerce reporter Dawn TV +Daily Dawn
KARACHI: Due to factors such as the delay in the IMF loan program due to Pakistan’s lack of financial resources to close the external financial gap and the non-debt rollover, the dollar continued to advance in both the foreign exchange markets on Wednesday. The rates also exceeded 280 rupees.
The dollar fell 13 paise to 278 rupees 57 paise at one point during the inter-bank market on reports that the government will be given time to meet the revenue shortfall and get a loan deferment facility until next week. was
However, the absence of Pakistan’s name in the agenda of the IMF meeting on September 13 and anxiety over the approval of the new debt program increased the demand in the market, which led to the advance of the dollar, which resulted in the dollar at the close of business. The interbank rate closed at the level of Rs 278 and 76 paise with an increase of 06 paise.
Also in the open currency market, due to the increase in demand compared to supply, the value of the dollar increased by 25 paise and closed at the level of 280 rupees by 25 paise.
Fiscal challenges facing the economy, continued delays in the IMF loan program, and exporters’ inability to increase their foreign exchange earnings have worsened the demand-supply balance in both foreign exchange markets, with the rupee depreciating against the dollar. This has led to pressure on value.
