Pakistani rupee maintained a losing streak against the US dollar for the third straight day, shedding 27 paisas (-0.15 percent) on Thursday.
The State Bank of Pakistan said in a statement that the dollar opened at Rs176.22 in the interbank market and closed at Rs176.49.
The rupee witnessed a trading range of 44 paisas during the session, showing the intraday high bid of 176.50 and low offer of 176.06.
The experts said that surging oil prices are weighing on the local currency as they will inflate the oil import bill.
The country’s oil bill increased sharply by 113.39 percent to $10.18 billion during the July-December period of the current year 2021-22 as compared to $4.77 billion in the corresponding period of the last fiscal year 2020-21.—TLTP
