US Dollar continues to gain strength against Rupee in interbank market
KARACHI: The US dollar continued to gain power against the Pakistani rupee at the beginning of the trading week.
The US dollar rose by Rs 1.16 in the interbank market against the Pakistani rupee to be traded at Rs 157.
During last week, the price of the US dollar in the interbank mart rose by Rs 7.24.
The sliding rupee has caused an alarming situation in Pakistan. The country is already facing inflation likely to average more than 7 percent for the year. The rising costs for fuel and power are strongly affected by the dollar exchange rate.