Dollar continues to fly high against rupee amid political unrest

By: News Desk
Published: 04:45 PM, 25 Jul, 2022
Dollar continues to fly high against rupee amid political unrest
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The American currency Monday gained Rs1.51 paisas against the Pakistani Rupee and reached Rs229.88 in the interbank trading on the first day of the new business week, reported 24NewsHD TV channel.

During the interbank trading the dollar rate went as up as Rs232 before receding as it was closed at Rs229.88 after seeing another 0.66 percent depreciation.

The last closing of the US dollar was Rs228.37 against the Pakistani Rupee.

SBP Governor Dr. Murtaza Syed in an exclusive SBP podcast said that Pakistan has achieved the very important milestone of the staff level agreement with IMF and the program is fully on track.

Also, SBP Deputy Governor Dr. Inayat Hussain in an exclusive with SBP Podcast said that since December 21 PKR has depreciated by 18% and 12% of it is owing to strengthening of US$ globally. “Domestic factors are also at play. We expect demand supply gap to narrow soon,” he added.

He further added since the staff level agreement with the IMF we have not received any complaint from banks or oil companies that they are facing difficulties in confirming imports LCs.

Also, Mera Pakistan Mera Ghar is being reviewed and it will continue for the people of Pakistan. “We are addressing the difficulties of those who have deposited money as Bayana,” says Deputy Governor SBP Sima Kamil.

Reporter: Ashraf Khan

Categories : Business