Dollar soars due to IMF-related market speculations

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LAHORE: The United States (US) dollar increased by Rs0.50 in the inter-bank market and Rs0.70 in open market on Friday, February 29.

On Friday afternoon, the US dollar stood at Rs142 in the open market.

Since the Imran Khan administered took office in 2018, it has failed to bring surety on the IMF front, with talks with the IMF still going on.

“Negotiations with International Monetary Fund (IMF) are underway and there are speculations in the market that the government will depreciate the rupee according to IMF’s conditions. Hence the price of US dollar has increased both in the inter-bank market and the open market,” says Samiullah Tariq, Director Research at Arif Habib.

“There is an increasing noise regarding IMF in due to which the dollar is increasing,” confirms Saad Hashmey, Chief Economist at Topline Securities.

“On the other hand there are continued concerns on the external front. Exports have failed to grow substantially,” he adds.

 

3 COMMENTS

  1. THIS GOVERNMENT TOTAL FAIL NOT GOOD POLICY ASAD UMAR TUM JO JOBS KARTEIN THEY WAHIN JAU TUM KYU PAKISTAN KO NUKSHAN KARWARAHEHO TUMSEIN TO CHAPRASHI ACHA HAI KAAM SE KAAM CHAPRASHI BATHROOM SAAF KARKEIN PAISE KAMANA JANTEIN HAI TUMSEIN TO PPP OR N ACHI THI BALLEIN PAISE KHATEIN HONGEIN MAGAR TUMHARI TARAH NANGA HOKAR BHEICK TO NAHIN MANGTA THAA PPP YA N KARZ LEKAR MULK CHALATA THAA MAGAR AWAAM KO KABHI PATA NAHIN CHALTA THAA TUMLOG TO PURA NANGA HOGAYEHO MAGAR SAHMAJH NAHIN AARAHA ETNEIN PAISE MILEIN HAI BAHIR SE BHI OR MULK KE UNDER SE BHI KAHAN HAI PAISE TUMLOG TO 6 ARAB DOLAR KELYA NANGEIN HOGAYEHO TUMLOG GHAR OR JOBS DENEKI BAAT KI THI KAHAN HAI GHAR OR KAHAN HAI JOBS TUMLOG TO BALKEIN OOLTA KARDYA HAI GJAR BHI KHATAM KARRAHEHO OR JOBS BHI KHATAM KARRAHEHO IMRAN NIAZI KEHTA HAI THORASA DIN MEHENGAYE BARDAST KARLO PHEER ACHE DIN AAJAYENGEIN JAAB MEHENGAYE SE AWAAM KI MOUT HOGI TO ACHE DIN MAIN KIA KABAR SE SAHIN SALAMAAT LEKAR AAYGA YAA IMRAN NIAZI MAIN KEHTA HOO BAJWA SAHAB NIAZI KA KAAM NAHIN MULK CHALANA TUM NIAZI KO MAIDAAN MAIN BHEJEDO WAHAN UMPIRING KARLEIN YAA NIAZI TAKEIN KAAM PER DILL LAGA RAHEGA

  2. It has been done deliberately by Asad Umar and IK also. IMF limbo is a cover up staged drama, as is still discussion matter. As an Analogy: I am not willing to believe that existing PM was unaware about NAB’s papers about his filthy rich Minister – last year December. Even Bajwa was aware b4 elections about sources of income of Khusro Bukhtiar, BUT They Become Animals for self interests ( sumun bukmun )…. so many dirty rats on a sinking ship….

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