Karachi (Monitoring Desk) Terrible news for Pakistanis.
Get prepared to welcome the storm of expansion . In the new financial year, the dollar went out of control. The value of the dollar has risen historically. The dollar rose by 2 rupees 6 paisa in one day.The dollar continued to rise in the interbank market on the first day of the business week due to factors such as rising demand for the dollar, rising global crude prices, import bills and further rise in escalation.
As a result of this flight, the inter bank rate of the dollar crossed Rs. 173 and the value of the dollar in the interbank market increased further.Experts say rising international prices, including crude oil and other key commodities, could lead to a significant increase not only in Pakistan’s import bill but also in inflation. The demand for the dollar for needs is increasing and the value of the dollar is not recovering. Increased prices of trolley products.
Petrol
Petrol prices have increased by Rs 10.49 per litre, while high-speed diesel prices have increased by Rs 12.44 per litre. The price of e-speed diesel has risen to Rs 134.48 litre, an increase of Rs 12.44 per litre. Kerosene’s price has risen by Rs10.95 per litre to Rs120.26 per litre. The price of light diesel was lifted by Rs 8.84 paisa per litre, bringing it to Rs 108.35 paisa. The change in petroleum product prices will take effect immediately.
On the other hand, the SBP’s new measures and raids on exchange companies continue, resulting in a significant reduction in dollar smuggling from the open market to Afghanistan, although the expected impacts of this crackdown are not obvious in the interbank market.This is because the long-running negotiations between the government and the IMF have so far shown no clear indication of the resumption of the loan program, which is why the dollar is soaring in the interbank market. Economists fear a further rise in inflation as the rupee depreciates.Due to the high flight of the dollar, all the multinational companies have increased the prices of their baby milk, pampers, surf, soap, shampoo and make-up products by thirty percent.
The dollar soared on the first trading day of the week and reached a new high of Rs 172.10.
Karachi: The US dollar strengthened by Rs 1.6 against the Pakistani rupee in the interbank market on Monday.Greenback closed at Rs 172.78 on the primary exchanging day of the week as against Rs 171.18.
According to the details, Forex dealers said that the value of the dollar has increased by 92 paisa, after which the new value of the dollar in the interbank market has become 172 rupees 10 paisa.The dollar had closed at Rs 171.18 on the interbank market at the end of trading on Friday.The dollar had gained 65 paisa in the previous trading week, while the euro had gained 50 paise to close at Rs 199.
In a week, the British pound rose by Rs 2 to Rs 236, the UAE Durham by 40 paise to Rs 48.30 and the Saudi riyal by 30 paise to Rs 45.70. Abu Dhabi: New gold prices emerged in the United Arab Emirates. 10 grams of gold has become 2093 Durham.
For the primary time within the history of the nation, the Pakistani rupee has suffered the most exceedingly bad decrease against the dollar within the connected bank and nearby open money market.
The forex Affiliation of Pakistan detailed on Monday that the dollar acknowledged by Rs 1.75 against the rupee within the associate bank showcase, taking the buying cost of the dollar from Rs 171.10 to Rs 172.85 and the offering cost from Rs 171.20 to Rs 172.95. Additionally, within the nearby open cash showcase, the buying cost of dollars expanded by Rs 1.70 from Rs 171.20 to Rs 172.80 and the offering cost expanded from Rs 171.60 to Rs 173.30.
According to the Forex report, the euro appreciated by Rs 1.40, taking the buying price of the euro from Rs 197.60 to Rs 199 and the selling price from Rs 199.60 to Rs 201. Similarly, the buying price of the British pound increased by Rs 1.50 to Rs 234. Tax of Rs 235.50 and sale price increased from Rs 236 to Rs 237.50.
