The US dollar rate in Pakistan further decreased by Re0.20 (20 paisa) against Pakistani rupee to Rs277.76 in the interbank market on Friday (Nov 22) as per the State Bank of Pakistan (SBP).
On Thursday, the rupee closed at 277.96, as reported by the State Bank of Pakistan (SBP).
Globally, the US dollar hovered near a 13-month high on Friday as investors evaluated the Federal Reserve’s interest rate outlook, while uncertainty in Europe kept the euro under pressure. Meanwhile, Bitcoin inched closer to the $100,000 mark.
The yen remained steady against the dollar after Japan’s core inflation stayed above the Bank of Japan’s (BOJ) 2% target, suggesting conditions might be aligning for additional interest rate hikes.
The US dollar index slipped slightly by 0.05%, standing at 107.01, just below Thursday’s one-year high of 107.15, its strongest level since October 4, 2023, amid a lack of significant economic data this week to slow its upward momentum.
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