Dollar 49 paisa expensive in interbank

Karachi: In the interbank currency market, the rate of dollar increased by 49 paise to 223.66 rupees.

The dollar continued to fly in both foreign exchange markets, the value of the dollar in the open currency market increased by 1.05 rupees to close at the level of 231 rupees.

During the business hours in the interbank market, the value of the dollar was recorded at one point by an increase of 83 paisa to the level of 224 rupees.

Experts say that the yield of Pakistan’s international bonds maturing in December has further increased to 120%, while the value of the inflows of overseas Pakistanis in Roshan Digital Account reached 1.42 billion dollars as of March 30, but due to the uncertain political and economic conditions in the past Due to the withdrawal of deposits in six months, the value of deposits in RDA has decreased to the level of 7630 million dollars.

Economists say that although the current account deficit has been largely brought under control, the uncertain political situation, the delay in the IMF review and the conditions for imposition of new taxes worth Rs 800 billion have left the trade and industrial sectors reeling.

Experts say that due to the ongoing crisis of foreign exchange, the rupee is becoming devalued, Pakistan has foreign exchange reserves worth 8 billion dollars, but most of these reserves include the deposits of China and Saudi Arabia which cannot be used.

Although the finance minister claimed non-default and assured payment of global bonds maturing in December, former finance minister Shaukat Tareen says that the finance minister is an expert chartered accountant, so he balances the inflows and outflows to the public. Do it so that the real situation can be clarified and doubts can be removed.