The Pakistani rupee recorded a nominal gain against the US dollar during trading in interbank market on Monday, reported 24NewsHD TV channel.

According to information received from forex dealers, the local currency appreciated by 15 paisas against the greenback and was currently being traded at Rs277.80.

During the previous week, the Pakistani rupee had increased marginally as it gained 19 paisas or 0.07% against the US dollar in the interbank market, ending the week at Rs277.95 on Friday.

In a key development, the federal government had ordered a significant rise in petrol price by up to Rs9.66 per litre, effective from April 1, 2024, further adding financial burden on general public.

The recent surge in petrol prices is attributed to an increase in premium from $12.15 per barrel to $13.507 per barrel, marking a $1.45 per barrel increment.

Te government passed on its full impact to general masses ahead of Eidul Fitr, with the rate of petrol surpassing the high-speed diesel (HSD) price. The petrol price is raised from Rs279.75 to Rs289.41 per litre.

Reporter Ashraf Khan