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"We have mopped up dollars 700 million last week for oil payments abroad which led to the hike in price of green bills in the domestic market," he said while talking to media persons after delivering his speech at a conference on micro-bank financing.
The international oil prices are unprecedented which led to change in rupee-dollar parity, he added.
The dollar was traded at 88.87 for buying and 88.92 for selling in the interbank market and in the kerb market it was hovering at 88.80 and 89.20 at the close of the business session.
"It all depends on demand and supply and has nothing to do with speculative trading," SBP Governor said.