KARACHI: The US dollar on Wednesday continued its slide against the rupee in the interbank, days after the government reversed some subsidies on fuel, a major demand for the release of a $1 billion tranche from the IMF.

According to forex dealers, the US dollar shed Rs0.66 in the interbank and traded at Rs197.66. In the open market, the greenback was trading between Rs197 to Rs202. It is pertinent to mention here that the Pakistani rupee also extended an upward trend against the US dollar in the interbank market on Tuesday.

According to forex dealers, the local unit appreciated by 0.35 rupees versus the greenback in the interbank market to trade at Rs198.71. The dollar had closed at Rs199.06 against the Pakistani rupee the other day.