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The US greenback continued to hit new peaks in opposition to the rupee within the open-market, and was promoting for over 334 throughout buying and selling on Monday.
The Alternate Firms Affiliation of Pakistan (ECAP), nevertheless, quoted charges at Rs329 and Rs326 throughout buying and selling.
Within the inter-bank market, the rupee was above the 305 degree in opposition to the US greenback.
The forex has come beneath renewed stress in opposition to the US greenback, particularly within the open market, after the federal government lifted import restrictions, a key situation of the Worldwide Financial Fund (IMF).
Financial analysts have urged the authorities to seek out avenues to draw greenback inflows, as depletion of reserves is rapidly eroding confidence on the native forex.
The overseas alternate reserves held by the nation’s central financial institution are hovering at $7.85 billion degree, as per information launched final week.
In the meantime, some have highlighted that the IMF situation to keep up a forex hole of round 1.25% between the inter-bank and open-market is driving up charges within the latter.
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