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Dollar continues upward march, soars to Rs208.4 in interbank

Dollar continues upward march, soars to Rs208.4 in interbank

The US dollar continued to extend gains on Friday as it crossed Rs208 during early morning trade in the interbank market — a trend analysts attribute to a delay in the deal with International Monetary Fund (IMF) and the rapidly depleting foreign exchange reserves.

According to the Forex Association of Pakistan (FAP), the greenback appreciated by 65 paisa from the yesterday's close of Rs207.85 and rose to Rs208.40.

Rupee has been losing ground ever since the start of the week which has worried investors and is creating frustration among the stakeholders of the economy.

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