PKR depreciates by 1.13% against US dollar

On Thursday, the Pakistani rupee experienced a depreciation of 1.13% against the US dollar, settling at 282.3 as reported by the State Bank of Pakistan (SBP).

This decline of Rs3.18 in the inter-bank market followed a decrease of Rs1.25 or 0.45% on Wednesday, when the rupee settled at 279.12 against the US dollar after three successive gains. SBP Governor Jameel Ahmed shared that measures have been taken to control imports, and the current account deficit is expected to be $7 billion for the current fiscal year, which is lower than the budgetary target of $10 billion.

In the international market, the US dollar was near a three-month high on Thursday due to Federal Reserve Chair Jerome Powell’s remarks that interest rates may need to rise faster to curb inflation. Although Powell remained cautious about the scale and path of future rate hikes being dependent on data, the US dollar index, which measures the greenback against a basket of six peers, remained close to a three-month peak, having increased by 1.3% on Tuesday. Additionally, oil prices fell for a third day due to concerns over rising interest rates’ potential economic impact, despite a surprise drop in US crude inventories and optimism about Chinese demand.

- Advertisement -


  1. I lost my Job few months ago,my wife left me ,could not get income for my family, things was so tough and I couldn’t get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $2000. and I contacted him unbelievable and I was so happy I earn $22,500 in 6 working days, the most joy is that I can now take care of my family I don’t know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good trade management system. 
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp : + 1(424)285-0682 or Telegram : Bernie_fx or Gmail : Bernie.doranfx01gmailcom


Please enter your comment!
Please enter your name here

- Advertisement -

Must Read

SECP unveils standardized constitutive documents for registration of private funds

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has taken a significant stride towards streamlining and expediting the registration process of private funds....