• 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

Intraday update: Rupee Faces Downward Pressure Against the US Dollar

by Irsa
August 25, 2023
in Business, Economy
Reading Time: 2 mins read
Intraday update: Rupee Faces Downward Pressure Against the US Dollar
Share on FacebookShare on Twitter

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.

Tags: latestRupeeUs Dollar
Irsa

Irsa

Related Posts

Pakistan Stock Exchange Seeks Clarification from PIA on Privatization Plans

Pakistan Stock Exchange Seeks Clarification from PIA on Privatization Plans

The Pakistan Stock Exchange (PSX) has raised concerns and addressed a letter to Pakistan International Airlines (PIA) regarding the issue...

Pakistan Signs Free Trade Deal with Gulf Cooperation Council

Pakistan Signs Free Trade Deal with Gulf Cooperation Council

The Gulf Cooperation Council (GCC) and Pakistan have "initialized" a free trade deal, according to the GCC through messaging platform...

September inflation seen at 29-31pc

September inflation seen at 29-31pc

In Pakistan, inflation is expected to be about 29-31% in September, according to the Ministry of Finance's monthly report released...

Karachi's Port Qasim Makes History with Arrival of Its Biggest Cargo Ship, a Massive 355-Meter Vessel

Karachi’s Port Qasim Makes History with Arrival of Its Biggest Cargo Ship, a Massive 355-Meter Vessel

For the first time, Karachi's Port Qasim received a cargo vessel measuring 355 meters at one of its ports. For...

Discover the Top-Ranked Airline in Pakistan: Check the Rankings Here

Discover the Top-Ranked Airline in Pakistan: Check the Rankings Here

On Thursday, the Pakistan Civil Aviation Authority (CAA) issued Pakistan airline rankings for 2023 based on flight punctuality. According to...

100 Omani Rials to Pakistani Rupees: Today's Exchange Rate

100 Omani Rials to Pakistani Rupees: Today’s Exchange Rate

Introduction Currency exchange rates play a pivotal role in the global economy, affecting international trade, tourism, and investments. For individuals...

Next Post
Naseem Shah’s heroics help Pakistan win thriller against Afghanistan

Naseem Shah’s heroics help Pakistan win thriller against Afghanistan

Recent Posts

  • China’s top scientist says India lying about Chandrayaan-3 landing
  • The World’s Longest Tunnel: A Marvel of Engineering Connecting Switzerland and Italy
  • Pakistan reach squash final in Asian Games 2023 for the first time in 13 Years
  • Pakistan Stock Exchange Seeks Clarification from PIA on Privatization Plans
  • Senate panel okays bill for public hanging of rapists

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