The Pakistani rupee has been getting stronger against the US dollar for the last three sessions. It settled at 302.95 in the inter-bank market on Friday, which is an increase of Rs1.99 or 0.66%. On Thursday, the rupee had strengthened 0.67% to settle at 304.94. The military has expressed its support for the efforts to improve the country’s socioeconomic growth and curb illegal activities that affect economic stability, growth, and investor confidence. In related news, exchange companies have surrendered $20 million to the inter-bank market in the last two days due to low demand in the market. Internationally, the US dollar is on track for its longest weekly winning streak in nine years, supported by positive US economic data. The US dollar index, which measures the dollar against other major currencies, remains strong at 105.02. Oil prices, a key indicator of currency stability, have remained stable as investors consider concerns about China’s economy and supply cuts from Saudi Arabia and Russia.
>Source link>
>>Join our Facebook Group be part of community. <<