US dollar appreciates against Pakistani rupee

Karachi: The Pakistani rupee (PKR) depreciated against the United States Dollar (USD) in the interbank market on Thursday.

According to the central bank, the local unit lost Rs 0.14 against the greenback to close at Rs287.60 in the interbank. The greenback closed at Rs287.46 the other day.

The open market price of the US dollar is Rs294.75, according to currency traders.

The potential of higher oil prices caused the dollar to rise to a one-month high versus the yen, despite the fact that the dollar fell against the majority of other currencies globally on Thursday ahead of American inflation data that will determine the Fed's policy course.

The euro increased by 0.48% to $1.1028, the pound increased by 0.4% to $1.2771, and the yen remained stable at 143.83 per dollar after initially declining to 144.14 per dollar, its lowest level in a month.

The announcement of the July U.S. CPI is still to come, albeit it is the biggest event of the day and even the week.

Yesterday, Rupee appreciated against US dollar in interbank on Wednesday. 

The Pakistani rupee (PKR) gained momentum against the US dollar (USD) in the interbank market after continuing an upward trend in two consecutive sessions.

According to the central bank, the rupee gained Rs 0.45 against the US dollar in interbank trading to settle at Rs287.46. The US dollar closed at Rs287.91.

Furthermore, The Pakistan Stock Exchange (PSX) 100-index experienced a bearish trend on Thursday.

The PSX ending with a loss of 419.26 points, marking a negative change of 0.87%. The day concluded with the index at 47,808.34 points, compared to the previous trading day’s 48,227.60 points.