Dollar prices also crossed Rs 173.
Rising demand for the dollar, rising global crude prices, import bills, and a further rise in inflation have pushed the dollar higher in the interbank market on the first day of the trading week.
As a result of this flight, the interbank rate of the dollar crossed Rs. 173 and the value of the dollar in the interbank market increased further by Rs.
Experts say rising international prices of crude oil and other key commodities threaten not only a significant increase in the volume of Pakistan’s import bill but also a rise in inflation, which could lead to imports into the interbank market. The demand for dollars for needs is growing and the value of the dollar is not recovering.
On the other hand, the SBP’s new initiatives and raids on exchange companies continue, as a result of which the smuggling of dollars from the open market to Afghanistan has been largely curbed, but the desired effects of this crackdown are not visible in the interbank market. ۔
This is because the long-running negotiations between the government and the IMF have so far shown no clear indication of the resumption of the loan program, which is why the dollar is soaring in the interbank market.