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Dollar raised to Rs107.70 in open market

Karachi: The dollar surged to Rs107.70 in the open market on Tuesday. 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 increasing inflation in the current year is due to the erosion of rupee value by 7 percent.