Pakistani Rupee falls against the US dollar in the interbank market
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KARACHI: The rupee fell 76 paisas against the dollar link on Monday, owing to a jump in the global oil prices and rising foreign currency demand for import payments, dealers said.
The exchange rate ended at Rs175.47 against the dollar from Friday’s closing at Rs174.71 in the interbank link foreign exchange market.
The dealers said high oil prices in the international markets escalated the demand for the dollars. Oil prices were steady on Monday in seesaw trading, after hitting their highest in more than seven years on Ukraine-Russia tension. The benchmark Brent Oil was trading around $94/barrel.
