Staff Report
ISLAMABAD: Uncertainty over the resumption of the International Monetary Fund program and dwindling foreign exchange reserves continued to put pressure on the rupee while the US dollar continued its steady climb and make new records, closing at Rs209.96 in the interbank on Monday.
The State Bank in its market data on Monday said that the US dollar closed at Rs209.96 on Monday, after having climbed to as high as Rs210.19 during the day, setting a new record for the rupee’s value.
Reports said the US dollar is up by Rs1.21. The US dollar had closed at Rs208.75 on Friday afternoon, the last working day.
Last Friday, the US dollar had made a nearly 0.52% gain of Re1.08 before closing. In the past 14 weeks, the dollar has cumulatively gained Rs28 in value.
