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KARACHI, (MANEND NEWS): The US dollar on Tuesday hit an all-time high against the Pakistani rupee in early trade in the interbank market, ARY News reported.
According to forex dealers, the value of the greenback surged by 0.35 paisa today to trade at Rs178.47 in the interbank market in early trading.
Bankers said the greenback rose to an all-time high of Rs178.30 in December last year.
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In the open market, however, the dollar is trading at Rs178.80 against the rupee.
The dollar went up by more than 60 paisas in the last four days. Experts say the dollar demand was high due to the recent increase in oil prices after Russia’s invasion of Ukraine.
Yesterday, Pakistan Stock Exchange (PSX) today fell like a house of cards and lost over 1200 points amid the country’s tense political situation and the Russia-Ukraine conflict.
The market came under intense selling pressure from the start of trading as the KSE 100-index shed 1284 points.