US dollar inches up in early trading

KARACHI: The US dollar inched up against Pak Rupee in early trading on Wednesday owing to persistent demand for import and corporate payments.

The dollar is being traded at Rs138.94 in interbank foreign exchange market. The exchange rate was ended at Rs138.92 in the foreign currency market.

The rupee made significant gain against dollar last week and early this week owing to visit of Saudi Crown Prince and several investment agreements signed by the Saudi authorities.

Currency experts said that for the immediate foreign payment Pakistan likely to get financial assistance from IMF and such move would exert more pressure on the local currency.

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