Dollar hit Rs158.50 in interbank market

Dollar hit Rs158.50 in interbank market
Karachi: The US dollar rose by Rs 0.62 in the interbank market today, hitting a high of Rs Rs158.50, GNN reported.

In the open market, the greenback is being traded at Rs159.20 after an increase of 22 paisa.

Economists are of the view that effective measures must be implemented on the priority basis to recover the state from the balance of payment deficit.

Moreover, the state’s exports are required to grow significantly, and the imports must be reduced to remove pressure on the local currency.

Despite after receiving the first tranche of $991.4 million from the International Monetary Fund (IMF), US dollar rate kept fluctuating, causing uncertainity in the market.