KARACHI: The US dollar’s surge against the rupee continued here on Friday during the intraday trading session at the interbank market. It was recorded to be trading at Rs. 176.
Meanwhile the rates at the open market surged by Rs. 1.70 with dollar rising to Rs. 178. Dollar has been rising sharply over the last few weeks recording the only temporary relief last week when dollar went down to Rs. 169 in the interbank market.
The decline in the value of dollar was attributed to the Saudi Arabia’s announcement of $3 billion package for Pakistan. The short-lived relief, however, ended when Finance Minister Shaukat Tarin suggested that a further rise in the value of dollar was expected since the federal government of Pakistan and the International Monetary Fund were yet to sign the deal officially.