Pakistani Rupee edges up against US dollar
The Pakistani rupee gained against the US dollar in the inter-bank market and closed at 280.85, registering a gain of Rs0.01.
The Pakistani rupee inched higher against the US dollar during early trade on Thursday and stood at Rs 280.70, appreciating Rs 0.16 or 0.06 % from the previous close of Rs 280.86, according to market data.
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The US dollar traded at $1.1495 against the euro, marginally softer than Tuesday’s three-month peak of $1.1469.Pakistani Rupee Continues Gain against US Dollar
Commodity-linked currencies gained ground. Australian dollar rose 0.3 % to $0.6508 and the New Zealand dollar firmed to $0.5665 after a rebound in equity markets.The dollar held steady at 153.93 yen in early Asian trade.
Oil prices were largely flat after two-week lows. Brent crude hovered at $63.54 a barrel. US WTI remained near $59.60. Lower global oil prices may ease Pakistan’s import bill, offering mild support to the rupee.
