• Download the Constitution of Pakistan
  • Advertise
Wednesday, July 16, 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

Intraday Update: Rupee Maintains Stronger Position Against the US Dollar

by News Publishing
September 15, 2023
in Business, Economy
Reading Time: 2 mins read
0
Intraday Update: Rupee Maintains Stronger Position Against the US Dollar
Share on FacebookShare on TwitterLinkedinWhatsapp

The Pakistani rupee surged more against the US dollar on Friday, gaining 0.43% during the first hours of trading in the interbank market.

At 11:15 a.m., the rupee was trading at 296.68, up Rs1.28 on the interbank market.

The rupee gained 0.29% on Wednesday to close at 297.96.

Meanwhile, the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) kept the key policy rate at 22%, predicting that inflation will continue to fall in the future.

This is the second consecutive meeting in which the MPC has kept the policy rate unchanged.

The MPC’s decision proceeds counter to market expectations of a rate hike.

Internationally, the US dollar maintained steady in Asia on Friday, easing somewhat from overnight gains against peers as the yuan rose in response to some market-beating Chinese economic data.

The dollar rose overnight after US retail sales increased 0.6% in August vs a projected 0.2% increase, while market players reacted to the European Central Bank’s 25-basis-point move.

The US dollar index was last at 105.32, little down than Thursday’s six-month high of 105.43.

Oil prices, an essential currency parity indicator, reached on Friday and are on track for a third weekly gain, as better-than-expected Chinese economic statistics and claims of record oil consumption strengthened the assumption that demand in the world’s second-largest crude consumer will continue to rise.

Tags: RupeeUs Dollar
News Publishing

News Publishing

Related Posts

Pakistan, Russia sign Protocol to restore & modernize PSM

Pakistan, Russia sign Protocol to restore & modernize PSM

by News Publishing
July 11, 2025
0

Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing...

PSX soars to new high of over 133,000 points in intraday trade

PSX soars to new high of over 133,000 points in intraday trade

by News Publishing
July 7, 2025
0

July 8, 2025: The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Monday, as the KSE-100 index surged...

Pakistan, Azerbaijan sign $2billion investment agreement

Pakistan, Azerbaijan sign $2billion investment agreement

by News Publishing
July 5, 2025
0

Pakistan and Azerbaijan have signed an agreement for investment worth two billion dollars in diverse sectors of Pakistan's economy. The...

Electricity Rate cut 2025

NEPRA Slashes Power Tariff by Rs1.16 Per Unit

by Anum Arif
July 2, 2025
0

In a major relief to power consumers across Pakistan, the National Electric Power Regulatory Authority (NEPRA) has approved a reduction...

Petrol price increased by Rs8.36 per litre for next fortnight

Petrol price increased by Rs8.36 per litre for next fortnight

by News Publishing
July 1, 2025
0

The Finance Division has announced a significant increase in fuel prices, citing volatility in global crude oil markets. Effective from...

PSX 2025

PSX Crosses 125,000 Points for First Time

by Anum Arif
June 30, 2025
0

The Pakistan Stock Exchange (PSX) achieved a historic milestone on June 30, 2025, as the benchmark KSE-100 Index crossed the...

Next Post
Supreme Court orders to restore corruption cases against public office holders

Supreme Court orders to restore corruption cases against public office holders

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