KARACHI: The dollar continued to soar in both the foreign exchange markets on Friday due to pressure from external payments and rising demand from the import sector, pushing the dollar above Rs 168 in the interbank market to a 13-month high.
In the interbank market, the dollar rose further by 36 paise to close at Rs 168.02, while in the open currency market, the dollar rose by another 20 paise to close at Rs 168.70.
Experts say that despite the increase in remittance inflows, the trade and industry sectors are facing uncertainty about the future of the country’s economy, which has led to an increase in demand for both the dollar and the dollar in both foreign exchange markets. The flight is also ongoing.
Experts say that even with the fiscal deficit exceeding 7%, the dollar is proving stronger against the rupee, while the changing situation in Afghanistan is also affecting the foreign exchange markets.