The Pakistani rupee continued to fall against the US dollar, falling 0.13% during interbank trading on Friday.
At 11:50 a.m., the rupee was trading at 300.60, down Re0.38 in the interbank market.
The rupee plummeted to a historic low against the US dollar on Thursday, settling at 300.22.
In a significant move, Caretaker Federal Minister for Commerce and Industries Dr Gohar Ejaz stressed the importance of the EXIM Bank becoming active as soon as possible in order to boost Pakistan’s exports.
The Pakistani rupee continued to fall against the US dollar, falling 0.13% during interbank trading on Friday.
At 11:50 a.m., the rupee was trading at 300.60, down Re0.38 in the interbank market.
The rupee plummeted to a historic low against the US dollar on Thursday, settling at 300.22.
In a significant move, Caretaker Federal Minister for Commerce and Industries Dr Gohar Ejaz stressed the importance of the EXIM Bank becoming active as soon as possible in order to boost Pakistan’s exports.
Investors will interpret Powell’s monetary policy speech at the Jackson Hole Economic Policy Symposium at 10:05 a.m. ET (1405 GMT) to determine whether the Fed is done raising interest rates and how long it intends to keep rates high.
The dollar index, which compares the US currency to six rivals, increased 0.019% to 104.11, its highest level since June 7. The index is up 2% in August, ending a two-month losing streak.
Oil prices, a crucial measure of currency parity, dipped marginally in early Asian trade on Friday, on track for a weekly drop as sluggish manufacturing data dampened global demand expectations and the dollar remained strong.
