The price of the US dollar fluctuated on Friday against the Pakistani rupee in intra-bank trading, reported 24NewsHD TV channel.

As the business started, the greenback first lost 11 paisas, then after some hours it recovered its loss and scored a gain of 39 paisas against the Pakistani currency. However, in the afternoon, the US dollar again took a plunge and lost all its gains and another six paisas against the rupee.

As the trading started on Friday, the value of the Pakistani rupee appreciated a bit as compared to the US dollar as the greenback shed its value by 11 paisas but the US dollar wasted no time in hitting back, recovering the loss and going up another 39 paisas.

Later, after losing all the gains and another six paisas the US dollar was being traded at Rs177.55 in inter-bank trading. The rate of the dollar was Rs177.61 yesterday.

The ruthless US dollar hammered the Pakistani rupee in phases during the intra-bank trading on Thursday and reached an all-time high of Rs178. When the business opened, the greenback right away surged by 27 paisas later it built its gains to 57 paisas, adding to its continuous rise against the Pakistani rupee to a historic record. However, the US dollar was closed at Rs177.61 the previous day.

The American currency has gained Rs25.72 during the last seven months as the greenback was at Rs152.28 on May 21, 2021.

Economic experts are of the view that the expensive dollar is costing Pakistan to pay more for the imports and it also has added over Rs3,000 billion to the country's external debts. 

The rupee was expected to perform strongly after Pakistan had received $3 billion from the Saudi government over the weekend.

Reporter Habib Khan