Wednesday, June 3, 2020  | 10 Shawwal, 1441
Samaa TV
Facebook Twitter Youtube
HOME > Money

Dollar price goes up by Rs2.5

SAMAA | - Posted: May 15, 2019 | Last Updated: 1 year ago
Posted: May 15, 2019 | Last Updated: 1 year ago
Dollar price goes up by Rs2.5

The price of a dollar rose by Rs2.5 on Wednesday to touch Rs146.25 in the open market. 

The rise comes shortly after Pakistan and the IMF signed a three-year deal for $6 billion on Monday.

One condition of the programme is having flexible exchange rates. This means the government should not intervene in the foreign currency market and let the forces of demand and supply decide the dollar’s rate against the rupee.

Related: Brace for impact as IMF presses for painful reforms

In the previous government, former finance minister Ishaq Dar had artificially inflated the rupee at a time when all currencies pegged against the dollar were depreciating. The dollar has already become 25% more expensive since December 2017, but experts say its rate may increase by another 5% to 10% under the IMF programme. On Monday, the dollar rose to Rs143.5 in the open market on Monday, up Rs1 from the previous day’s tally.

Follow SAMAA English on FacebookTwitter, and Instagram.

FaceBook WhatsApp

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp

ECC approves firing all Pakistan Steel Mill employees
Govt slashes petrol price by Rs7 per litre
OGRA proposes Rs7 cut in Pakistan’s petrol prices
Dollar surges by Rs2.6 in two days
Post-Eid, dollar touches one-month high
Sindh’s jewellery shops to reopen Friday
Govt to introduce tax free budget in 2020-21
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp