KARACHI: The exchange rate of the US dollar in the open market of Pakistan remained unchanged and concluded at Rs287.50 on Wednesday.
Simultaneously, the Pakistani rupee experienced a decline against the US dollar, losing Re0.51 to reach a rate of Rs286.90. The previous day, the rupee had depreciated by 0.38%, settling at 286.39 against the US dollar.
Internationally, the US dollar showed resilience on Wednesday, edging higher. This was prompted by several Federal Reserve representatives leaving room for potential interest rate increases. Traders were keenly awaiting a speech from Chair Jerome Powell for insights into the central bank’s future policy direction.
