Dollar hike repeats, climbs to Rs106.17 in interbank market
The rate of dollar experienced a spike of Rs. 0.47 in interbank market and Rs. 0.30 in open market
KARACHI (Dunya News) – Another hike in the dollar price was witnessed on Friday when the rate climbed to Rs. 106.17 in the interbank market after Rs. 0.47 spike.
The dollar rate has also increased by Rs 0.30 in the open market. The new price of dollar in open market was last recorded as Rs. 106.80.
The trend of sudden downward graph in the rupee value has been related to the ongoing political crisis. Panama case and other issues of investors’ interests have had a significant impact on the economic situation.
Yesterday, Finance Minister Ishaq Dar has taken notice of the sudden dollar price hike and ordered necessary probe into the matter. Despite the probe order, dollar price has been on a consistent trend of climb. He said that a thorough and transparent investigation would be conducted into the dollar price hike matter, which was result of a miscommunication and misunderstanding among some
individuals and institutions. Due to export payments, the demand of dollar hiked in interbank market in the last day of business week.
Related: Dar assures probe into sudden dollar price spike
Financial experts suggested that the price of rupee will reached a new low if the government is unable to control the dollar rate anytime soon. Consequently, the price of imports will go very high along with the burden of payable debts.
