Inter-Bank Market: Dollar further strengthens against rupee
KARACHI: As the rupee continues sliding slowly for the last three days, the value of US dollar on Friday increased by 15 paisa, against Pakistani rupee, in interbank market.
Following this decline, the dollar value was recorded at Rs138.89 in interbank market compared with 138.74 of Thursday. Rupee in last three sessions has been depreciated by Rs1.11.
While currency taking cue from the interbank, in the open market also recorded appreciation and dollar at open market closed at 139.60 after a slide of almost 30 paisa. The experts were of the view that the decrease in the dollar value was seen after the monetary policy approved (November 30) that has proposed an increase of 1.5 percent in interest rate on imports.
The currency market needs support from the government and the State Bank of Pakistan and starving for dollars.
Financial support lacked and the only option left to support the economy has been IMF package.
Though talks to held middle next month the continuous interest and principle debt payment on foreign loans unnerving the players, said an analyst.