US dollar continues climb against Pak rupee

KARACHI: The United States (US) dollar maintained its upward trend against the Pakistani rupee in the interbank currency market on Wednesday.

According to forex dealers, the greenback finished at Rs177.62 against the domestic unit, registering appreciation of 21 paisas over the previous close of Rs177.41.

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In the open market, they said the dollar is trading at Rs178.30 against the rupee.

Experts say the rupee devaluation is due to the rise in current account deficit (CAD) amidst an increase in global oil prices.

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International oil prices have gone up significantly following the Russian invasion of Ukraine.