Dollar gained almost 1.74 percent to Rs 122.50

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Dollar at interbank once again moved on higher side and gained almost Rs 2.10 reaching to new high all time high mark on higher demand from companies to meet import payment commitments.

Being the last day before Eid-ul-fitr holidays, importers and companies fight for dollar buying, with surge in demand, dollar shoots up once again after remaining calms for two days.

Dollar currently trading at 122.50 rupee against Wednesday’s close of 120.40 rupee.

“The market saw higher demand from oil companies as they thronged to banking counters to book available dollars for their import payments”, said a leading forex dealer at local bank. He said some 75 million dollar demand has been raised by the oil companies to make payments to supplier for petroleum product and crude oil consignments.

The dollar this week has surged by almost 5.9 percent from last week’s close of Rs 115.60 to a dollar.

The increase has raised the country debt payment level by nearly Rs 600 billion.

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