Dollar trading at PKR 298 in open market: Forex dealers
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00:00 Interbank dollar fell by 300 rupees after opening.
00:05 Forex dealers say that Interbank dollar is trading at Rs 2.16 cheaper than Rs 299.
00:13 Bank Dharamath Kunidigaon is selling dollars at Rs 299.50.
00:18 Open market is selling dollars at Rs 298.
00:22 In 6 trading sessions, dollar has fallen by Rs 8.10.
00:27 In one week, dollar has fallen by Rs 30.
00:32 Dollar is falling.
00:35 After opening, Interbank dollar has fallen by Rs 300.
00:39 Forex dealers say that Interbank dollar is trading at Rs 2.16 cheaper than Rs 299.
00:46 Maher Maheshwari Ad Khurram Shahzad is with us.
00:48 Thank you for talking to us.
00:50 After opening, Interbank dollar is falling.
00:55 What does this indicate?
00:57 As we discussed yesterday, the crackdown is continuing and should continue.
01:05 Suppliers of dollar have improved in Interbank.
01:11 When people from open market are giving dollars to Interbank,
01:19 of course, Interbank dollar is falling.
01:22 Dollar has fallen by Rs 300 and has reached Rs 299.
01:28 I think we should continue these administrative measures.
01:33 We should ensure demand supply is pure on a fundamental basis.
01:41 Especially, Interbank dollar should be rate determined.
01:46 We should contain open market so that there is no hoarding or cornering of dollar.
01:55 This is a good development.
01:57 Khurram, we saw that dollar has fallen by Rs 200 to 300.
02:03 Can't the current measures be done earlier?
02:07 Was the previous PDM government not in a position to control this?
02:13 Or did it leave a free fall?
02:15 We need to revisit the structural benchmark with IMF.
02:22 When the previous government was dealing with IMF,
02:26 it was mentioned in the document that
02:30 the rate of open market in Interbank will be 1.25% in open market.
02:37 The issue was that open market is a very small market compared to Interbank market
02:43 which generates 95% volume.
02:46 Open market generates 4-5% demand for dollar.
02:50 There is a lot of speculation or smuggling of dollar.
02:56 There is a lot of smuggling.
02:58 Smuggling is done through smuggling.
03:02 Everyone was buying dollar from open market.
03:05 Many people squeezed the supply.
03:12 Open market increased a lot.
03:15 Dollar went up to Rs 334 in open market.
03:19 Khurram, one more thing.
03:22 We are seeing macroeconomic conditions,
03:26 stock market is doing well and other things are going well.
03:29 When will this trickle down effect be?
03:32 When will it be beneficial for common people at micro level?
03:35 When will inflation be reduced?
03:38 This is a very important question.
03:41 We are in IMA program and we have to pay taxes.
03:45 It is possible that dollar will keep going down in Interbank.
03:48 Additional increase of petroleum prices, energy prices and gas prices,
03:55 there is a backlog of high gas prices.
03:59 Energy prices may not increase as much as it did because of dollar.
04:05 Petroleum prices will also increase due to dollar.
04:11 Common people may have to pay a lot of high prices.
04:15 Thank you very much, Khurram Shahidaz.