US dollar bounces back against Pakistani rupee.....strongly

By: News Desk      Published: 10:09 AM, 18 Nov, 2021
US dollar bounces back against Pakistani rupee.....strongly
Representational image.

The US dollar took a U-turn on Thursday as it gained 91 paisas after days of hammering by the Pakistani rupee.

The Pakistani rupee did not offer any breather to the US dollar after it made a further gain as the inter-bank trading began on Thursday but the greenback bounced back hard and scored a handsome gain, reported 24NewsHD TV channel.

After the fresh gain, the greenback reached Rs174.67 in the inter-bank market after gaining 91 paisas.

Talking to media in Islamabad on Tuesday last, Finance Advisor to Prime Minister Shaukat Tarin had given a hint of a slide in the rate of the dollar against the Pakistani rupee soon.

The advisor said the dollar would fall after the agreement with the International Monitory Fund (IMF). He said that the IMF had called for five precautionary measures before the deal, according to which, Pakistan had already increased electricity prices.

While he added that the bills related to eliminating tax exemptions and State Bank of Pakistan (SBP) autonomy had been prepared and the law ministry was finalizing the draft to move in the House.