Earlier, the SBP asked the representatives of the exchange companies to bring down the
dollar price to reduce the gap between the rate of open and interbank markets to just 1 per cent.
In world markets, oil prices were down yesterday, despite increase in US
dollar price spending, but OPEC members continue their commitment and agreement to reduce oil production supplies.
Following an unprecedented increase in
dollar price last November, the Sudanese authorities introduced new measures allowing for10-year prison term for anyone caught trading on foreign currency outside the banking system or approved institutions.
Karachi --
Dollar price went up in the open market by Re 1 and it closed on Rs 112.
In late November, the ministry had announced that the customs
dollar price for December would amount to EGP 16.
The surge in
dollar price will increase the import bill as prices of all imported oil, raw material and other essentials will go sky high.
On the other hand, a decrease of 3 paisas was witnessed in the
dollar price for the inter-bank transactions or inter-bank market, closing its value at Rs.
He buys his products from abroad with dollars, and now as the
dollar price has increased, he has to pay more dinars to buy the dollar amounts he needs to pay his suppliers.
Monday's black market
dollar price was 80 per cent more than the central bank's official "reference rate" of 11,300 rials -- a rate not available to normal Iranians or most importers.
80 per ounce after Ben Bernanke's speech one week ago, the US
dollar price for silver fell by a whopping $15 dollars within 4 trading days, to now $34.
According to the report, increase of
dollar price, decrease of goods` global prices, decrease of oil prices and decrease of liquidity are among the major factors of inflation decease in the country.
Since 2003 the
dollar price of oil has climbed far more rapidly than has the euro price--273 percent in dollars, compared to 146 percent in euros.
