Pakistani Rupee Appreciates Slightly Against US Dollar
Islamabad (Qudrat Daily): In the interbank foreign exchange market on Wednesday, a slight improvement was recorded in the value of the Pakistani rupee against the US dollar, after which the rupee closed with a marginal strengthening of 0.01 percent.
The local currency saw an increase of 3 paise, after which the dollar fell from Rs277.05 to close at Rs277.02 in the interbank market, while on Tuesday the rupee had closed at Rs277.05.
Globally, the US dollar showed overall stability amid rising oil prices, while investors are awaiting the minutes of the Federal Reserve meeting and statements from policymakers for signals regarding future interest rates.
The ‘Dollar Index’, which measures the dollar’s value against 6 major global currencies, rose 0.3 percent to reach 102.13. Europe’s major currency, the euro, fell 0.4 percent to $1.1216, the British pound declined 0.21 percent to $1.3248, while the Japanese yen weakened 0.13 percent to 158.31 per dollar.
Crude Oil Prices in the Global Market
Crude oil prices also recorded an increase in the international market.
Brent crude rose by 81 cents (0.8 percent) to reach $101.39 per barrel.
US WTI gained 61 cents (0.7 percent) to reach $90.05 per barrel.
