In intraday trade on the interbank market, the local currency fell by more than Rs18.89 versus the US dollar prior to the monetary policy review and delay in the International Monetary Fund (IMF) arrangement.
At roughly 11:36 am, the dollar was trading for Rs285 versus the local currency. A day earlier, it had been closed at Rs 266.11.
ECAP general secretary Zafar Parahca told Private TV that although the lender’s requirement to peg the exchange rate with that of the grey market, popularly known as the Peshwar market, has caused uncertainty, the market’s primary worry is the delay in the deal with the IMF.
According to Paracha, the present rate is excessive and shouldn’t have increased by such a large amount.
