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USD continues climb against Pakistani rupee

USD continues climb against Pakistani rupee

KARACHI: The United States (US) dollar gained Rs0.07 against the Pakistani rupee in the interbank market on Tuesday.

According to forex dealers, the greenback is currently trading at Rs168.45 against the domestic currency at the interbank foreign exchange market.

The US dollar closed at Rs168.37 on the other day.

Meanwhile, the greenback held overnight gains in the international market on Tuesday following seven weeks of an almost relentless fall as investors clung to hopes of a bipartisan stimulus deal in Washington and U.S. bond yields rebounded from multi-month lows.

The greenback index jumped back to 93.568 USD= from Friday’s two-year low of 92.495. Having fallen for seven straight weeks, the currency was due for a short-term corrective bounce, traders said.

The euro changed hands at $1.1745 EUR up slightly on the day, having eased 0.5% in previous trade. The greenback stood little changed at 106.07 yen.

The lira was quoted at 7.340 per dollar TRYTOM=D3, just above Friday’s record low of 7.365.

The British pound hardly budged at $1.3085 GBP=D4.