Dollar up vs. rupee at Rs107.70 in open market

KARACHI: The dollar surged to Rs107.70 in the open market on Tuesday here, Geo News reported.

Forex market dealers said that the value of dollar increased by paisa 15 with the surge in demand for dollar and it was seen during the trading pegged at Rs107.30.

Market analysts said that the rupee came under pressure due to payments being made to the International Monetary Fund (IMF). The value of rupee eroded by nearly 7 percent during the current year, which is one of the reasons of biting inflation in the country.