US Dollar continues to rise against Pakistani Rupee

#dollarratetoday #breakingnews #arynews

Transcript

00:00 Here's the news. The dollar has become 1.21 per cent more expensive in Interbank.

00:05 It is trading at Rs. 286.50.

00:08 In the open market, the dollar has become 1 rupee more expensive and is being sold at Rs. 288.

00:14 Forest dealers have to inform that the bank's cashier is being sold at Rs. 287.

00:21 Economic expert Khurram Shahzad is with us right now. Let's talk to him.

00:25 Mr. Shahzad, we saw that the dollar price went down and now it has started to rise again.

00:33 What is the reason for this?

00:35 Firstly, we should take this as normal volatility.

00:40 If there is a difference of Rs. 1 to Rs. 2, then it is normal volatility in the market.

00:46 It can be due to trading as well.

00:49 There are some demands for imports. Oil is being imported continuously.

00:55 You are getting other goods from abroad and the import is opening up.

01:01 IMF has a demand to open imports and see the value of the currency.

01:08 We are also doing IMF reviews.

01:11 I think these are the factors that are impacting the price of the rupee and the dollar.

01:17 This is normal volatility.

01:19 Secondly, you have to open imports.

01:21 Thirdly, IMF is in review.

01:23 You have to be very cautious not to do anything that will force the rupee to stop at the dollar.

01:29 Mr. Khurram, comparatively, the dollar is still very expensive and the value of the rupee is very low.

01:35 What do you think, the IMF agreement is still in review.

01:40 Will the economy be able to handle it? Will the dollar prices come down?

01:45 We hope to get $700 million after the review in December.

01:53 We will get a lot of confidence from the Pakistani market, the exchange market, the stock market, the bond market.

02:02 I think we will pass the review.

02:05 We will get $700 million and stability in the rupee.

02:15 But you have to understand that long term stability will be achieved only when you fix the structural problems.

02:22 You will fix the energy, reduce the losses of the public sector entities, and only then will you get fiscal discipline.

02:28 That is why long term stability is in structural reforms.

02:32 Thank you very much, Khurram Shehzad and Mahir Ma'ushah.

02:36 [BLANK_AUDIO]