The dollar price in Pakistan has risen 20 paisas to reach its yearly-high of Rs166.60. On August 31 last year as well, this was the exact price of the dollar.
According to forex dealers, an increase in imports has raised the demand for the currency, increasing its price. The changes in Afghanistan’s political landscape has also impacted the dollar rates.
The dollar prices started to take off on August 24 when it rose by 90 paisas to reach Rs165.40 from Rs164.50. The very next day, a 40-paisa increase brought it to Rs165.80. This was followed by a 70-paisa rise to bring the price to Rs166.50 on August 25. In the next two days, there was another increase of 50 paisas. Thus, the dollar price saw a rise of Rs2.10 in just six days.
Forex association chairman Malik Bostan said the quantity of imports is rising and last month a 45% increase was recorded. He said the importers are buying the currency in high numbers…