The dollar reached an all-time high on the second day of the interbank trading week. Dollar rate in Pakistan reaching skyrocketed since the Shahbaz government came.
According to Forex dealers, the dollar rose by Rs 1.64 in the interbank market today, after which the dollar reached a high of Rs 205.50.
Remember that in just three months of the current government, the dollar has become expensive by Rs 23.
It is to be noted that due to deficit and declining foreign exchange reserves, the rupee continues to depreciate in Pakistan, and on Monday one US dollar became more expensive in the interbank market at 203 rupees 85 paisa.
According to economists, exponential fluctuations in the value of the currency have caused great distress to exporters and importers, while also having a negative impact on foreign investors. According to currency dealers, with the departure of SBP Governor Raza Baqir and the subsequent non-appointment of a permanent governor, it seems that SBP’s control over the interbank has weakened, which is being taken advantage of.