ISLAMABAD – The value of the US dollar hit a high of Rs128.75 on Tuesday ininterbank trading with an addition of 75 paisa.According to details, dollar has gained Rs7.20 at interbank in two days.
The increase in exchange rate has also hiked the country’s foreign debtvolume by Rs2000 billion.
Since December, dollar registered an increase of Rs22.50 or 21 percentwhile debt payment pressure rose by Rs 2000 billion.
Meanwhile, dollar went up to Rs129 with an addition of 25 paisa in openmarket.
An analyst said that pressure on the currency mounted following the speechdelivered by the care taker finance minister Dr Shamshad Akhtar that spadework to enter in IMF would be prepared by the present government so thatnew government if they want to enter the program they could easily sail.
“This was enough to hint that all not well with the economy as reserveshave fallen sharply since October and now the country less than one andhalf months to cover the import bill”, said the same analyst.