US dollar hits record high against Pakistani rupee

KARACHI: The US dollar soared to an all-time high against the Pakistani rupee in the interbank market on Wednesday, ARY News reported.

According to forex dealers, the value of the greenback surged by 0.2 paisa today to close at Rs178.63 in the interbank market, hitting all-time high.

In the open market, however, the dollar is trading at Rs180 against the rupee.

Interbank closing #ExchangeRate for today:https://t.co/R2ZGSZ2CJa pic.twitter.com/CknbJInrcN

— SBP (@StateBank_Pak) March 9, 2022

According to experts, the greenback rose to an all-time high of Rs178.30 in December last year.

Meanwhile, oil prices rose on Wednesday as a U.S. ban on Russian oil imports and Britain’s plan to phase them out by the end of the year raised concerns of a tightening global offer.

According to Reuters, Brent crude oil futures were up $2.17, or 1.7%, at $130.15 a barrel at 0133 GMT, after jumping 3.9% the previous day.

U.S. West Texas Intermediate (WTI) crude futures rose $1.57, or 1.3%, to $125.27 a barrel, after also jumping 3.6% on Tuesday.