Pakistani Rupee Continues Gains Against US Dollar

The Pakistani rupee continued gains on Tuesday by appreciating 0.01% against US dollar in the inter-bank market on Tuesday.

Pakistani rupee closed at 281.32, recording a gain of Rs0.03 against the US dollar.

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The Pakistani rupee continued to gain on Tuesday in the inter-bank market during the morning session.

At 10am, the local currency was trading at 281.10, up by Rs0.25 against US dollar compared to Monday’s closing rate of 281.35.Rupee Continues Gains Against US Dollar

The shifting expectations have weighed on the dollar index which slipped to 97.948 in early Asian trade on Tuesday.

It extended a year-to-date decline of nearly 9.7%.  

Oil prices also contribute to change in currency rates. They also moved lower on Tuesday. Brent crude futures for November delivery dropped 54 cents or 0.8% to $67.43 per barrel at 0320 GMT.

The December contract also slipped 53 cents to $66.56. Meanwhile, US West Texas Intermediate crude also dropped 50 cents or 0.8% to $62.95 a barrel.

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