Karachi: After an increase of 79 paisa, the dollar has become 221.43 rupees in the interbank currency market.
During the current period, the value of the dollar in the open currency market increased by 50 paise to Rs 227.
The value of the dollar was also recorded at a level of 221.54 rupees at one point due to payments of import letters of credits opened in the interbank market worth up to one lakh dollars.
According to economists, the value of the dollar increased on Wednesday due to the non-implementation of the commitments made by the Western countries, the currency crisis persisting and no concrete financial support from China being announced so far.
Due to the government’s permission to open letters of credits of up to one hundred thousand dollars, the demand for foreign exchange increased and the pressure to manage the required one billion dollars against the yield of Pakistan’s international Eurobonds maturing on December 5, 2022. But the pressure remains, which makes the dollar fly.