KARACHI: Pakistani rupee depreciated by 76 paisas (-0.43 percent) against the US dollar amid surging crude oil prices on Monday. The State Bank of Pakistan said in a statement that the dollar opened at Rs174.71 in the interbank market and closed at Rs175.47. The rupee witnessed a trading range of 80 paisas during the session, showing the intraday high bid of 175.50 and low offer of 174.80. Within the open market, the rupee was traded at 176.30\/177.30 per dollar. The rupee shed 23 paisas last week, while it has depreciated by Rs18.04 during the ongoing fiscal year 2021-22. However, the local unit has appreciated by Rs1.04 during the current year 2022. The currency dealers said that high oil prices in the international markets escalated the demand for the dollars. Oil prices were steady on Monday in see-saw trading, after hitting their highest in more than eight years. Pakistan is the net importer of crude oil to meet its domestic demand. The oil import bill of the country surged to $10.18 billion during the first half (July-December) of 2021-22 compared to $4.77 billion during the same period of the last fiscal year. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI: Pakistani rupee depreciated by 76 paisas (-0.43 percent) against the US dollar amid surging crude oil prices on Monday. The State Bank of Pakistan said in a statement that the dollar opened at Rs174.71 in the interbank market and closed at Rs175.47. The rupee witnessed a trading range of 80 paisas during the session, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-244546","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n