• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

Intra-day update: rupee remains largely stable against US dollar

by Irsa
May 16, 2023
in Business
Reading Time: 2 mins read
Intra-day update: rupee remains largely stable against US dollar
Share on FacebookShare on Twitter

The Pakistani rupee appreciated 0.01% against the US dollar during the first hours of trading in the interbank market on Tuesday.

Around 10:40 a.m., the rupee was trading at 284.95, up Re0.02.

The increase comes after the rupee remained relatively constant versus the US dollar on Monday, closing at 284.97 in the inter-bank market.

According to the Pakistan Bureau of Statistics (PBS), the output of the Large Scale Manufacturing Industry (LSMI) fell by 8.11% from July to March 2022-23 compared to the same period last year.

Separately, Roshan Digital Account (RDA) inflows have surpassed $6 billion for the first time since its inception.

According to the State Bank of Pakistan (SBP), RDA inflows increased by $136 million in April 2023. Since its inception, total investment in the RDA has increased to $6.102 billion by the end of April 2023, up from $ 5.966 billion in March 2023.

The US dollar remained under pressure globally on Tuesday, pushed down by the danger of a US default as the deadlock between Democrats and Republicans over extending the debt ceiling showed little indications of resolution.

The dollar gained last week by both safe-haven demand despite disappointing Chinese economic data and an unexpected increase in US consumer inflation expectations, reintroducing the probability of a June Federal Reserve rate hike.

The US dollar index, which measures the currency against a basket of six major peers, was barely changed at 102.46, down 0.26% from its five-week high.

Oil prices, a major measure of currency parity, surged for a second day on Tuesday, boosted by the United States plans to acquire oil for its Strategic Petroleum Reserve (SPR) and raging wildfires in Canada, which fueled supply concerns.

Tags: LSMIPBSRupeeUs Dollar
Irsa

Irsa

Related Posts

Kazakhstan Airlines prepares to land first direct flight in Lahore

Kazakhstan Airlines prepares to land first direct flight in Lahore

Kazakhstan's SCAT Air Company will launch its first flight from Almaty to Lahore on July 8, 2023. The announcement was...

Sindh to present FY24 budget today

Sindh to present FY24 budget today

On June 10, the provincial authorities of the country's southeastern region will present the budget for the following fiscal year...

Pakistan working with friendly countries to restructure loans: Ishaq Dar

Pakistan working with friendly countries to restructure loans: Ishaq Dar

Finance Minister Ishaq Dar stated that the coalition government is in talks with friendly countries to restructure loans as the...

Budget 2023–24: Huge Tax Relief for Hybrid Vehicles

Budget 2023–24: Huge Tax Relief for Hybrid Vehicles

The fiscal budget for 2023-24 has finally been released, which is great news for Pakistan's hybrid automotive sector. According to...

PIA offers low fares with free baggage allowance for Islamabad-Beijing flights

PIA offers low fares with free baggage allowance for Islamabad-Beijing flights

From August 6, Pakistan International Airlines (PIA) will provide affordable fares with free luggage allowance for Islamabad-Beijing flights, making it...

Intra-day update: rupee remains stable against US dollar

Intra-day update: rupee remains stable against US dollar

During Friday's interbank trading, the Pakistani rupee remained basically stable against the US dollar. Around 12:30 pm, the rupee was...

Next Post
Canadian airline to commence flight operations in Pakistan

Canadian airline to commence flight operations in Pakistan

Recent Posts

  • Kazakhstan Airlines prepares to land first direct flight in Lahore
  • Budget 2023-24 is growth-oriented, says Ishaq Dar
  • Twitter to start paying verified content creators in few weeks
  • Court stops police from arresting Shah Mehmood Qureshi
  • Sindh to present FY24 budget today

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk