US dollar again thrashes Pakistani rupee hard
The US dollar has once again proved its stature as a true international currency as it hammered the Pakistani rupee on Thursday also by gaining over a rupee and crossing the Rs174 mark, reported 24NewsHD TV channel.
In the inter-bank trading, the greenback soared by another Rs1.17 and reached Rs174.10 from Rs172.93.
Economic expert Assad Rizvi said that the US dollar had increased its value by Rs4.09 during this week alone.
He opined that the demand for dollars has making its value pricey which is also becoming a huge challenge for the country’s trade deficit.
Assad Rizvi said the soaring price of oil and the ever-increasing demand for the dollars were putting pressure on the Pakistani currency.
He also said that there was a holiday in New York due to which there would no dollar remittances today which has also put pressure on the rupee.
Reporter Ashraf Khan