Pakistani rupee falls against US dollar in the interbank market
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KARACHI: The rupee fell sharply by 63 paisas against the dollar link on Monday as oil prices touched $140 per barrel in the international market, dealers said.
The rupee ended at Rs178.13 to the dollar from last Friday’s closing of Rs177.50 in the interbank foreign exchange market.
The local currency is heading towards the all-time value. The rupee recorded the all-time low of Rs178.24 on December 29, 2021.
The dealers said that the foreign exchange market remained uncertain during the day due to highly volatile international oil prices.
The oil prices are gradually rising since the start of the Russia-Ukraine war link on February 24, 2022. The benchmark Brent crude recorded $s140 per barrel, the highest level since 2008.
