• Download the Constitution of Pakistan
  • Advertise
Tuesday, May 13, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

Intra-day update: Rupee shows slight recovery against US Dollar

by News Publishing
August 7, 2023
in Business
Reading Time: 2 mins read
0
Intra-day update: Rupee shows slight recovery against US Dollar
Share on FacebookShare on TwitterLinkedinWhatsapp

During the first hours of trading on Monday, the Pakistani rupee gained 0.08% against the US dollar.

At 10:20 a.m., the rupee was trading at 286.75, up Re0.22 in the interbank market.

The rupee fell 0.18% versus the US dollar in the previous week, closing at 286.97 in the interbank market.

The rupee recovered after three sessions of losses, but attention was drawn to the political front, where Prime Minister Shehbaz Sharif reportedly announced the date for the dissolution of the National Assembly.

Meanwhile, the State Bank of Pakistan’s (SBP) foreign exchange reserves fell a little, a non-event for the currency market, but all eyes will be on how large the import bill gets as the government relaxes restrictions.

Globally, the dollar fell on Monday after a mixed US jobs report provided little directional certainty and as market attention shifted to inflation data due this week from the world’s two largest nations.

The US dollar economy added fewer jobs than predicted in July, according to figures released on Friday, but it still posted solid pay improvements and a decrease in the unemployment rate.

While the dollar sank to a one-week low against a basket of currencies in the aftermath of the data, its losses were limited since the report pointed to a still-tight employment market, implying the Fed may need to maintain rates higher for longer.

The US dollar index was last at 101.98, close to Friday’s low of 101.73. The pound gained 0.04% to $1.2756, while the euro fell 0.01% to $1.1010.

Oil prices, a crucial measure of currency parity, rose to their highest level since mid-April on Monday after main producers Saudi Arabia and Russia agreed to keep supplies low for another month in order to further tighten global markets and support prices.

Tags: RupeeUs Dollar
News Publishing

News Publishing

Related Posts

KSE-100 Surges Past 120,000as Ceasefire, IMF Funding, andTax Relief Fuel Market Rally

KSE-100 Surges Past 120,000as Ceasefire, IMF Funding, and Tax Relief Fuel Market Rally

by News Publishing
May 13, 2025
0

The Pakistan Stock Exchange (PSX) extended its historic rally on Tuesday, with the benchmark KSE-100 Index climbing back above the...

PKR and Dollar

PKR Rises Amid Trade Truce Optimism

by Anum Arif
May 12, 2025
0

The Pakistani rupee showed early signs of strength on Monday, appreciating 0.1% against the US dollar in the inter-bank market...

PSX skyrockets nearly 10,000 points as ceasefire lifts investor confidence

PSX skyrockets nearly 10,000 points as ceasefire lifts investor confidence

by News Publishing
May 12, 2025
0

The Pakistan Stock Exchange (PSX) witnessed a historic rally on Monday, with the benchmark KSE-100 index surging over 9% following...

Export of services rises to $6.2bn in July-March

Export of services rises to $6.2bn in July-March

by News Publishing
May 9, 2025
0

Pakistan’s exports of services rose by 9.85% to $6.24 billion during the first nine months (July–March) of fiscal year 2024-25,...

Jets

CAC Stock Soars After PAF Downs Indian Rafales

by Anum Arif
May 7, 2025
0

Shares of China’s Chengdu Aircraft Corporation (CAC), the manufacturer of the JF-17 and J-10C fighter jets, surged more than 17%...

Pakistan's goods exports reach $26.86bn after over 6% surge

Pakistan’s goods exports reach $26.86bn after over 6% surge

by News Publishing
May 3, 2025
0

Pakistan's goods exports have climbed to $26.86 billion in the first ten months of the fiscal year 2024–25, marking a...

Next Post
PIA resumes Islamabad-Beijing flight operation

PIA resumes Islamabad-Beijing flight operation

About Us

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

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters