Rupee edges against dollar in early trade
The Pakistani rupee has mode another gain on Friday against the US dollar and appreciated 0.01% in the inter-bank market. It closed at 280.82 registering a gain of Rs0.03.
The Pakistani rupee appreciated 0.1% against the US dollar during early hours of trading on Friday.
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At 10am, it stood at Rs280.55 in the inter-bank market, registering a gain of Rs0.3 from Thursday’s closing rate of Rs280.85.Pakistani Rupee edges up against US dollar
The dollar index dropped 0.5% to 99.674 by reversing earlier gains this month. Oil prices has been a key driver of exchange rate dynamics for energy-importing countries like Pakistan.
It edged higher after three days of declines. Brent crude surged 0.33% to $63.59 per barrel. West Texas Intermediate gained 0.37% to $59.65. Both benchmarks are still down around 2% for the week due to rising global output and weaker demand.
