| GEO Business|
| Dollar goes beyond Rs75 in inter-bank|
| Updated at: 1417 PST, Wednesday, August 13, 2008|
KARACHI: The value of rupee against dollar in the inter-bank trading today further eroded by Rs1.25, which saw the dollar jumping beyond Rs75.
Money market dealers said that the inter-bank trading yesterday had wrapped up at Rs73.75, while today it went swirling beyond Rs75. The dollar was seen traded in the open market at Rs75.50/76.
Invest Capital analyst Khurram Shahzad said that the institutions and individual investors preferring to hold back dollar due to the onrush of dollar purchasers, while the speculative elements were also seen playing the market. He said that the speculators have intensified their activities due to the existing political instability in the country and thus aggravating the importers’ ordeals. Analysts said that the situation demanded further measures to be taken by the State Bank.