The Pakistani rupee (PKR) appreciated by 17 paisa against the US dollar in the interbank market on Wednesday. After the 0.06 per cent gain, the rupee is trading at Rs281.75 against the dollar.
The mild appreciation came as the US dollar softened against major global currencies for a third straight session. The greenback’s decline followed political setbacks for former President Donald Trump, who failed to secure full Republican support for his proposed tax overhaul.
Market participants were also watching for any signals from US officials at the Group of Seven (G7) finance meetings in Canada, where concerns over a weaker dollar policy lingered.
In the broader currency market, the dollar dropped 0.14 per cent to 144.31 yen and 0.22 per cent to 0.8264 Swiss franc early in Asian trading.
Despite the uptick, the PKR has shown limited movement in recent weeks, maintaining a largely stable trend. Since the start of the current fiscal year, the rupee has slipped by Rs3.58 or 1.27 per cent. For the calendar year to date, the depreciation stands at Rs3.37 or 1.20 per cent.
