Dollar Value Rises Slightly Against Rupee in Exchange Market
The value of the Pakistani rupee depreciated slightly against the US dollar in the exchange market on Thursday. During trading in the interbank market, the rupee weakened by 0.09%, with the dollar rising by 26 paise to reach 280.42 rupees.
It is noteworthy that last week, the rupee had appreciated by 10 paise or 0.03%, closing at 280.16 against the dollar in the interbank market.
On the international front, the US dollar saw a broad decline on Thursday, while the euro remained stable. This shift in the currency markets followed President Donald Trump’s announcement of unexpectedly tough tariffs on US trading partners, which created volatility in the markets. As a result, investors flocked to safe-haven currencies like the yen and Swiss franc.
The announcement of retaliatory tariffs caused significant market upheaval, leading to a sharp decline in global stocks. Investors quickly moved towards safer investment options, such as bonds and gold.
