On Thursday, The US dollar wasted no time in bouncing back against the weak Pakistani rupee as intra-bank trading opened.
The Pakistani currency, which showed some resistance in the morning, surrendered to pressure against the strong US dollar.
When trading started, the Pakistani rupee quickly rose 46 paise, but the US dollar rebounded within hours, breaking another historical barrier of Rs207.
As the trade continued, the dollar raised a total of Rs 1.29 to trade at a record high of Rs 207.75; as trading opened on Thursday, forex traders reported that the rupee resisted the US dollar’s rise, but the greenback roared again.
On Wednesday, the US dollar also showed its skills and marched to a new all-time high, causing the Pakistani rupee to drop to a new all-time low.
The US dollar hit the Pakistani currency hard, appreciating by 1.30 rupees and ending the day at a new record level of Rs 206.46, the situation was no different in the open market as the US Dollar gained Rs.1.50 to end the day at Rs.208.
