PKR Gains Slightly as Dollar Dips in Early Trading
The Pakistani rupee on Friday witnessed a marginal gain against the US dollar in the inter-bank market. It closed at 280.25, registering a gain of Rs0.01 against the US dollar.
The local currency traded around 280.05 at 10 a.m., which registered a gain of Rs0.21 from Thursday’s close rate of 280.26.Pakistani Rupee Continues to Gain in Early Trade
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On Thursday, the Pakistani rupee had closed at 280.26 against the US dollar.
In Europe, sterling was volatile after the Bank of England cut interest rates to 3.75%. This move was widely expected by markets. The pound briefly swung higher before settling around $1.3392.
The euro weakened modestly and dipped about 0.1% overnight to trade at $1.1724 in Asian hours.
Brent crude futures slipped 9 cents, or 0.2%, to $59.73 a barrel by 0111 GMT. US West Texas Intermediate crude dropped 16 cents, or 0.3%, to $55.99 a barrel.
On a weekly basis, both benchmarks had dropped more than 2%, which eased cost pressures for oil-importing economies.
