In a nine-session streak, the Pakistani rupee (PKR) showed resilience, gaining 0.09% against the US dollar, closing at Rs282.53 on Friday with a notable increase of Rs0.26, according to the State Bank of Pakistan.
Simultaneously, foreign exchange reserves fell to $6.904 billion due to debt repayments. Globally, the US dollar neared a four-month low, anticipating crucial inflation data,
and the Federal Reserve’s hint at potential 2023 rate cuts continues to impact currency pairs, including PKR to USD.
This evolving scenario captures the attention of investors tracking global economic trends, underscoring the dynamic nature of financial markets.
