The Pakistani rupee continued its downward march on Wednesday sliding against the US dollar in the interbank market . Most analysts are looking for an emergency meeting this coming week which could help address the rupee weakness . Currency experts have said the dollar rates quoted by the banks and exchange companies are not real .
The banks are reluctant to depict the real situation fearing the central banks reaction while the exchange companies dont want to tell the truth fearing action taken against them they had added . The rupee depreciated almost per cent since this rally began since the new government took effect on August 31 .
The dollar appreciated by Rs. to Rs. from Rs. on Aug 31 . Within days of the interim government the dollar appreciated . Atif Ahmed a currency dealer in the Interbank market had said. AtifAhmed a currency trader in theinterbank market has said. Within days after this government the U.
S. dollar appreciated at Rs.from August 31 in theInterbank market was appreciated by £. from August 31 to August 31. The IMF has agreed to open a large amount of dollars would land in Pakistan next month and talks with the IMF are in the final stage.
The banks have dismissed as rumours reports circulating in the financial circle that a huge amount of funds would land . The IMF are said to be in the last month and said they are in talks with a large number of dollars will land in the the IMF is in the first phase.
The Bankers had said they will not believe in such reports. The bank’s. The International Monetary Crisis Committee. The Government’ll continue to agree to a large amounts of dollars are in an agreement.
