Dollar weekly gained by Rs7.24 in interbank market

KARACHI: The price of dollar in the interbank market rose by Rs7.24 during the week.

In the business week, dollar reached its peak rate at Rs156.

The US dollar rose by Rs2.94 in the interbank market to reach Rs155.84.

In interbank market, Euro gained by Rs9.54, reaching Rs175.61. As for Pound Sterling, it was of Rs 197.03 by gaining Rs9.11.

The sliding rupee has caused alarm in Pakistan, which is already facing inflation likely to average over 7% for the year and surging costs for fuel and power, which are both heavily influenced by the dollar exchange rate.