KARACHI: The rate of the U.S. dollar has increased on Monday, by Rs1.60 after which its value was recorded as Rs133.50 in interbank market.
The unprecedented dollar rise was up to Rs1.60 after which its value was recorded as Rs133.50 in interbank market.
During previous week, the dollar recorded an unprecedented increase of Rs9.39 after opening on October 9.
Due to the increase in Dollars the marker and key players are uncertain about future prospects.
The rapid increase in the dollar is owing the government’s decision to approach the International Monetary Fund (IMF) to deal with the prevalent financial crisis, according to analysts .
Finance Minister Asad Umar announced that federal government has decided to approach International Monetary Fund to deal with the rampant financial crisis, according to Finance Minister Asad Umar.
“The country is going through a tough time, which has been left behind by the previous government,” he continued.
IMF mission headed by Herald Finger visited Islamabad last week for talks with the new government.
The IMF mission held talks with officials of the ministries of finance, trade, petroleum, investment and power.