The Pakistani Rupee (PKR) crashed to another all-time low against the USDollar (USD) and posted losses in the interbank market today. It lost 67paisas against the greenback after hitting an intra-day high of Rs. 180.30against the USD during today’s open market session.
It depreciated by 0.38 percent against the USD and closed at Rs. 181.25today after losing 49 paisas and closing at Rs. 180.57 in the interbankmarket on Friday, 18 March.
Economic Analyst, A. H. H. Soomro, told ProPakistani,
Pressure is likely to persist until oil prices normalise. The IMF review isapproved and SBP’s next MPC. It may not go beyond Rs 181 to Rs 182 but USDglobal strengthening is having an impact.
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The rupee closed in red against the dollar for the sixth consecutive daytoday after oil prices jumped over $110 as European Union nationsconsidered joining the United States in a Russian oil embargo. At the timeof press, benchmark Brent crude futures surged to $112.4 a barrel, whilethe US West Texas Intermediate (WTI) crude made more gains and soared ashigh as $109.2 a barrel.
