Pakistani Rupee Gains Slightly against US Dollar
The Pakistani rupee on Thursday gained against the US dollar, which was up Rs0.01 during trading in the inter-bank market. It closed at 280.26 against the US dollar. The Pakistani rupee closed at 280.27 on Wednesday.
The Pakistani rupee gained slightly against the US dollar on Thursday during early inter-bank trading by gaining 0.06%.
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In the opening hours, it was trading at 280.10, which was appreciated by Re0.17 compared to Wednesday’s close rate of 280.27. Pakistani Rupee Continues to Gain in Early Trade
Meanwhile, the US dollar held on to recent gains against major currencies ahead of key central bank decisions in Britain, Europe, and Japan.
Sterling remained under pressure after an unexpected slowdown in UK.The Japanese yen recovered some ground and surged 0.2% to 155.45 against US dollar after sliding 0.6% in the previous session.
The dollar index, which tracks the US dollar against a basket of major currencies including the euro and yen, stood at 98.35 with a gain of 0.2% on Wednesday.
The euro was steady at $1.1743l. The sterling held at $1.3373 after witnessing a drop of 0.4% a day earlier.
Oil prices are considered to be a key factor for currency markets. It rose sharply in Asian trading after US President Donald Trump had announced a blockade on tankers which were entering and leaving Venezuela.
US West Texas Intermediate crude climbed 98 cents, or 1.7%, to $56.89 per barrel by 0120 GMT. Brent crude surged 92 cents, or 1.54%, to $60.60 per barrel.
