ISLAMABAD: The US dollar again took a major leap forward on Wednesday and surged near Rs237 level for the first time in the inter-bank trading. On Tuesday, dollar-rupee exchange rate closed around 233 rupees in the inter-bank and above 234 rupees in the open market.
However, as the political uncertainty has been heightened with the apex court’s decision which enabled Chaudhary Pervez Elahi to take oath as chief minister while PTI leaders assertions of getting back their government in the center, the value of dollar has hit 237 rupees level during the intra-day in the inter-bank trading on Wednesday morning, at 11:50am.
Delay in the disbursement of IMF loan is also another major factor behind rapid depreciation of Pakistani currency in the recent weeks.
The way the US dollar is taking long leaps, the dollar-rupee exchange rate can expand to 250 rupees in next few days, analysts said.
The board of executive of the IMF has expected to meet in the third week of August to consider loan approval for Pakistan and by that time the US dollar might extend its value around 270 rupees.
