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Pakistani Rupee Strengthens Against Dollar and Other Currencies

Islamabad: The Pakistani rupee showed further improvement against the US dollar on Friday, gaining 0.11% during the early hours of trading in the interbank market. By morning, the rupee was trading at 277.65 against the dollar, reflecting an increase of 0.31 rupees from the previous day. Globally, the US dollar remained near a 13-month high as investors evaluated the Federal Reserve’s interest rate outlook. In Europe, uncertainty pressured the euro, while Bitcoin hovered near the $100,000 mark.
So far this fiscal year, the Pakistani rupee has strengthened by 38.22 rupees or 0.14% against the US dollar, and has gained 3.90 rupees or 1.40% on a calendar year basis. On Thursday, the rupee had shown a slight improvement of 8.33 paisas or 0.03%, closing at 277.96, compared to 278.04 the previous day. Against other major currencies, the rupee appreciated by 1.06 rupees or 0.36% against the euro, closing at 292.90, and strengthened by 1.51 rupees or 0.43% against the British pound, ending the day at 351.41.

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