ISLAMABAD: The Pakistani rupee has struck back and gained 94 paisas against the US dollar after the intervention of the State Bank of Pakistan (SBP) for the second day on Thursday.

In the inter-bank trading, the rupee quickly gained 94 paisas and later built the gain to Rs1.52 and then again dropped bringing the dollar from Rs169.12, the previous day’s closing, to Rs168.18.

Experts were of the view that there was still a demand for the dollar which was the reason for its soaring price which touched the all-time high of Rs169.60 after which the State Bank had to intervene to slow it down

According to Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs167.7 and Rs169.2 respectively.

The price of euro was depreciated by Rs1.98 and closed at Rs198.03 against the last day’s trading of Rs200.01, the State Bank of Pakistan reported.

The Japanese Yen lost one paisa to close at Rs1.53, whereas a decrease of Rs 1.64 was witnessed in the exchange rate of British Pound, which was traded at Rs 232.36 as compared to its last closing of Rs 234.00.

The exchange rates of Emirates Dirham and Saudi Riyal declined by 25 paisas each to close at Rs 45.78 and Rs 44.84 respectively.