Karachi May 22 2023: Dollar move up 6 Rupees in the open market on higher demand from pilgrims as Hajj flights starts from Pakistan.
Dollar is trading at 306 in the open market against closing of 300.15 on Friday.
Dollar in interbank trading at 288.5 against Pak Rupee (PST 12:15) against Friday closing of 285.82.
The first Hajj flight 773 of Pakistan International Airlines (PIA), carrying 328 pilgrims flew to Medina from Karachi here on Sunday. As per the first day of the Hajj operation, around 700 pilgrims fly through inaugural flights to Saudi Arabia from Karachi, Islamabad and Faisalabad.
According to currency dealers, there is currently a severe shortage of dollars in private exchange companies due to shortage of dollar supply. According to them, at present some companies are only buying dollars because they do not have dollars to sell.
According to dealers, the political crisis in the country and the fading prospects of the IMF program are causing the dollar to rise.
Related Posts
