KARACHI. September 8,2022. US dollar rose to the new level against the local unit as it valued at Rs 225.40 in interbank at the closing of the first session on Thursday.
US dollar had closed at Rs 223.50 at the end of working session on Wednesday
US dollar had appreciated 13 rupee plus against the local currency in the last one month in inter bank.
Likewise , USD value in open market is also increasing against the rupee.
USD value increased to Rs 232;against the rupee on Thursday.
On July 3, 2022 , US had traded at Rs 212 and the currency market experts were hinting more deviation of the US dollar once International Monetary Fund (IMF) funds come in , but things went other way around and dollar mafia hit back to cap value at higher end .
Despite release of $ 1.16 billion by IMF, US dollar value is on the rise in the currency market . During the last one month, US dollar value has gone up more than by Rs 13 and there is no end to this game of increasing US dollar artificially
SBP is mere a spectator to US dollar artificial value appreciation . Its not playing a role of a regulator to stop artificial appreciation of the local currency.