Dollar continues to fly higher, becomes more expensive

In the interbank and open market, the value of the US dollar continues to rise against the rupee.

On Monday during the interbank trade, the dollar rate increased by Rs 2.18. Now dollar currently stands at Rs 288.

In the last trading week at the interbank, the dollar closed at Rs 285.82.

On the other hand, in the open market, the dollar rose by Rs 4 to Rs 305.

According to experts, the IMF accord impasse and continued political upheaval in the nation led to the increase in the USD.

Pakistan is now appealing to friendly nations for additional cash after the International Monetary Fund (IMF) bailout program’s $6.5 billion renewal was delayed.

The staff-level agreement between International Monetary Fund and Pakistan is being delayed from February 9.

On June 30, 2023, the present loan agreement with the IMF will come to an end. Pakistan is ‘considering’ a new agreement with the IMF under revised terms, it was learned.


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