March 28, 2022 (MLN): US Dollar (USD) hit 182 against Pakistani Rupee (PKR) in early trade on Monday in an interbank market on the back of heated political environment on the domestic front and external payment pressure. 

The rising commodity prices have swelled the import bill, expanding the current account deficit which has kept the demand for the dollar elevated. 

In addition, a report by Arif Habib Limited noted that foreign investors sold $352mn (net) worth of T.Bills and PIBs during March 22 to date, it is the highest monthly selling after Apr’20 ($601mn) which could also pose a threat to PKR. 

The domestic currency has weakened by 22 paisa (9:48 PST) when compared to the previous day’s close of 181.78 against the greenback.

Meanwhile, in the open market, the greenback was traded at 181.70/182.70.

Copyright Mettis Link News

31691