ISLAMABAD: US dollar appreciated to as much as over Rs 100 in the currency market due to nervousness created by the arrival of Dr Tahirul Qadri and subsequent events in the day in connection to his arrival.
Currency dealers in the open market said that the arrival of Dr Qadri and ensuing political tension depressed the market. Nervous traders turned to money market to cover their future needs. The buying of dollar spiked and ultimately the price went up to cross the red line.
Dollar was being sold for over Rs 100 and purchased for Rs 99.90. For the last four months, the dollar-rupee parity has stayed stable in the open market while remaining under Rs 100.
However, the exchange rate in the inter-bank market remains unaffected from political chaos developed during the last five days.
