KARACHI: On Wednesday, June 12, the US dollar’s value versus the Pakistani rupee increased by Re0.11 (11 Paisa) to Rs278.61 in the interbank market.according to Pakistan’s State Bank (SBP).
The rupee lost Re0.13 and ended the day on Tuesday at 278.50.
The local currency has mostly hovered between 277 and 279 versus the US dollar in recent weeks as Pakistan advances its strategy to get an extended International Monetary Fund (IMF) bailout package.
Globally, as market participants anticipated the release of the Federal Reserve’s updated interest rate predictions later in the day and important US inflation data, the US dollar steadied on Wednesday after reaching a four-week high against peer currencies overnight.
