Dollar starts Wednesday with an 81-paisa surge

By: News Desk      Published: 10:26 AM, 25 Nov, 2020
Dollar starts Wednesday with an 81-paisa surge

The US dollar got a big boost in the currency market on Wednesday morning after an 81 paisas gain in the interbank exchange rate, propelling its price to Rs160.90 within an hour after the opening of trade, reported 24NewsHD TV channel.

Last week, the dollar had reversed the trend witnessed during the last few months and was available for Rs160.72 in interbank trading on Friday, which meant that the world’s top currency gained Rs2.56 against the local currency in just four sessions.

But the rupee managed to reduce these losses in the first two days of the current week. However, the latest surge again pushed the dollar to its highest exchange rate in recent months.

Earlier on Thursday, 24NewsHD had reported that a weaker rupee was producing serious consequences for the country as the external debt increased by Rs245 billion in just three days.