Rupee Continues Gains Against US Dollar
The Pakistani rupee continues gains on Monday in early day opening session against the US dollar. It appreciated 0.06% against US dollar in the inter-bank market.
The rupee was hovering at 281.20 at 10:30 am with a gain of Rs0.17.
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It had made a marginal gains during the previous week which appreciated by Rs0.09 or 0.03% in the inter-bank market. It had closed at 281.37 compared to 281.46 it stood at the week against US dollar.Pakistani rupee edges higher against US dollar
Against the yen, the US dollar also declined 0.2% to 149.24 against the yen. It had jumped up over 1% against the Japanese currency last week.
The euro also appreciated 0.15% to $1.1717. Meanwhile, sterling was up 0.11% to $1.3418.
Oil prices are considered to be a key indicator of currency parity. It also dropped on Monday after Iraq’s Kurdistan region had resumed crude oil exports via Turkiye over the weekend.
The other factor was OPEC+ plans to make another hike in production in November to add more supplies.
Brent crude futures also dropped 34 cents, or 0.5%, to $69.79 a barrel by 0330 GMT.
US West Texas Intermediate crude stood at $65.29 a barrel, registering a decline of 43 cents, or 0.7%.
