Dollar scales new peak of 207.7.

KARACHI -- The dollar further appreciated by 0.58 per cent on Thursday to close at 207.67 against the rupee in the interbank market owing to concerns over depleting foreign exchange reserves and ambiguity regarding Pakistan's deal with the International Monetary Fund (IMF).

The dollar closed at 208.50 in the open market.

Asad Rizvi, former treasury head at Chase Manhattan Bank, outlined the rapid decline in the country's foreign exchange reserves as the main factor pressuring the rupee. 'The urgency is to get the house in order per the IMF.'

He said increasing the...