The Pakistani rupee showed stability versus the US dollar during Wednesday’s early trading, rising 0.03% on the interbank market. According to the State Bank of Pakistan (SBP), the rupee was worth 277.65 at 10:20 AM, up Re0.09 from Tuesday’s closing rate of 277.74.
Due to important macroeconomic data that is anticipated to affect US monetary policy going forward, the US dollar, meanwhile, held steady near a three-month high.
There was little clarity on the Federal Reserve’s easing forecast due to the US economy’s mixed economic statistics, which showed a tightening jobs market and consumer confidence. This made it possible for the dollar to decline, especially after a recent seven-year note auction had impressive results.
