US dollar bulldozes Pakistani rupee, rises to historic level of Rs177.45
December 8, 2021 11:03 AM
The US dollar again shot up to a historic level against the Pakistani rupee as it hit the record Rs177 mark in inter-bank trading on Wednesday.
The US dollar which was off to a cautious start against the Pakistani rupee in inter-bank trading earlier Wednesday struck back recovering the lost ground and scoring a gain of 66 paisas within hours of business, reported 24NewsHD TV channel.
The greenback which lost 19 paisas against the Pakistani rupee in the early business hit back and went into positive territory reaching the record level of Rs177.45.
After the fresh gain, the US dollar was now being traded at Rs177.45.
The American currency had gained Rs25.17 during the last seven months as the greenback was at Rs152.28 on May 21, 2021.
Economic experts were of the view that the expensive dollar is costing Pakistan to pay more for the imports and it also had added over Rs3,000 billion to the country's external debts.
It may be mentioned here that the American currency also hit back on Tuesday and recovered some ground it lost to the rupee a day earlier.
The rupee was expected to perform strongly after Pakistan had received $3 billion from the Saudi government over the weekend.
Reporter Ashraf Khan