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The Pakistani rupee (PKR) witnessed an upward trend against the US dollar, rising by 0.07 percent during early trading in the interbank market on Friday.
In the morning session, the rupee stood at 277.50 per US dollar, marking an increase of Rs0.19.
Since the start of the financial year, the PKR has appreciated by 65.43 paisa, or 0.24 per cent, against the dollar. In the current calendar year, the rupee has strengthened by Rs4.17, or 1.5 percent. On Thursday, the currency had closed at 277.69, according to data from the State Bank of Pakistan (SBP).
Globally, the US dollar struggled on Friday and seemed poised for its third consecutive monthly decline. Investors are assessing US economic data to predict potential interest rate cuts, while stimulus measures in China helped boost risk-sensitive currencies.
In Thursday’s interbank session, the PKR gained 15.92 paisa, or 0.06 percent, against the dollar, closing at 277.69 compared to the previous day’s close of 277.85.
