KARACHI: The US dollar rose by Rs4.93 in the interbank market, hitting a high of Rs115.50, according to forex dealers.
Interestingly, the rate in the open market is not being divulged at the moment but it is usually higher by a couple of rupees than the interbank rate.
Business analyst Mohammad Sohail said fuel prices could rise in the country as a result of the latest increase.
However, sharing a benefit of the rate hike, Sohail said the country’s local industry will get a boost as exports are taking a dent while imports are rising.
He added that in the past three to four months, the dollar has risen to Rs115 from Rs105 in the interbank trade.
