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The Pakistani rupee showed a marginal improvement against the US dollar today during early Tuesday trading, signaling some positivity in the country’s current economic situation.
According to a report by Business Recorder on Tuesday morning, the Pakistani rupee posted a slight recovery against the US dollar, appreciating by 0.04% during the initial hours of trading in the inter-bank market, indicating some stability for the rupee.
By 11 am, the rupee stood at 277.75, gaining Re0.11 from its previous closing rate of 277.86 on Monday, according to the State Bank of Pakistan (SBP). Meanwhile, on the global stage, the US dollar was trading near a four-month high against other major currencies.
Elsewhere, Bitcoin continued its record-breaking rally, reaching a new all-time high as investors anticipated gains from the potential economic policies of the incoming Trump administration, with the newly elected US president expected to improve the country’s economy.
The US dollar index rose by 0.07%, reaching 105.49 as of 00:37 GMT after touching 105.70 on Monday—the highest since July 3. Bitcoin surged to $89,637, with Trump’s pledge to make the US the global “crypto capital” fueling investor optimism.
