KARACHI: On Wednesday, the United States (US) dollar retained its upward trend against the Pakistani rupee in intra-day trading in the interbank market.
According to foreign currency dealers, the greenback surged past the Rs177 mark for the first time after appreciating by 34 paisas against the domestic unit.
The dollar is trading at Rs177.25 in the interbank market as compared to the previous close of Rs176.79.
In the open market, however, the dollar is trading at Rs178.30 against the rupee.
The rupee had closed on a record low of Rs176.79 against the US dollar in the interbank market the previous day.
On Nov 4, the State Bank of Pakistan (SBP) received $3 billion from Saudi Arabia under a support package signed between Pakistan and the kingdom. Adviser to the Prime Minister on Finance Shaukat Tarin confirmed the kingdom has deposited the loan amount with the country’s central bank.
“Good news, US$3 billion Saudi deposit received by SBP,” he tweeted, thanking Saudi Crown Prince Mohammed Bin Salman and the kingdom for the “kind gesture”.
