Dollar has been flying high was worth Rs. 128.75

On the one hand, the dollar's price reached the highest level of Rs 129.55 due to the crisis in the open market

On the one hand, the dollar’s price reached the highest level of Rs 129.55 due to the crisis in the open market

Karachi … News Time

Due to intense pressures on reservoir reserves for commercial and current account deficit and external debt payments the value of the dollar in both the gold exchange markets on Monday reached the highest level of domestic history. The US dollar jumped continuously throughout the interbank market on the end of the business, Rs. 6 rupees closed on Rs 127.99 with an increase of Rs. 6 In the open market, a high inflation of Rs. 4.75 was closed at the highest level of Rs 128.75. Due to the rise in dollar value in the interbank market, the external debt volume in Pakistan has increased by 600 billion rupees. In the Interbank market, the dollar started at 9.45 am in the morning, but after the opening of an hour in open currency market, dollar sales started with a new fly. The dollar’s retirement rates continue to increase gradually.

On the one hand, the dollar’s price reached the highest level of Rs 129.55 due to the crisis in the open market however, the dollars later declined marginally, which resulted in an increase of $ 4.75 in the open currency market at the highest level of Rs 128.75. The Foreign Exchange of Pakistan President Malik Bostan said that the depreciation of gold reserves and the rupee has decreased the value of Pakistani rupees. And dollar value has reached the highest level of history. The inflation of the country will increase the inflation of the country due to the rising value, and the value of every item, including petrol, must be imported daily. While the cost of import raw materials used in local industries will increase significantly in the cost of production. After the reduction in rupee value, the risk of foreign debt has also increased. Due to import imports, domestic exports and imports increased significantly $ 37 billion and decrease in reservoir reserves factors like also are the reasons for the reduction in rupees.

It is noteworthy here that a record increase in the US dollar worth a record of 12.49 billion rupees has been recorded in the Interbank market in the past seven months. Gold prices rose by 450 rupees, with an increase of $ 59650.

Advertisement

No comments.

Leave a Reply