Pakistan rupee appreciates against US dollar to a 15-week high

Posted: Oct 2, 2020 | Last Updated: 6 hours ago The Pakistani rupee appreciated against the US dollar on Friday to a 15-week high after strengthening by Rs0.5 paisa.

It had reached an all-time high of Rs169 on after rising Rs11 in as many days before a central bank intervention brought it down.

That sudden rise was primarily because of a cut in the policy rate, triggering an outflow of $1.67 billion from the country’s debt market in March alone.

For example, all automakers rose their prices correspondingly because they import up to 60% of their parts.

President Donald Trump has proposed a $1.5 trillion coronavirus package to revive economic growth, which raised investors’ confidence as markets rallied, pushing the dollar to a week’s low in the international market.

us dollar, usd to pkr, pakistan rupee

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