Rupee Inches Higher Against US Dollar
Staff Report
Islamabad: The Pakistani rupee has witnessed a slight gain against the US dollar on Wednesday, appreciating by Re0.05 to close at 283.72 in the interbank market.
The State Bank of Pakistan has reported this. The rupee had closed at 283.77 on Tuesday, a day earlier. The currency had registered a marginal 0.02% improvement during the trading session.
International markets had also remained focused on geopolitical developments as the US dollar also came under pressure. The investors had responded to a fragile ceasefire between Israel and Iran.
US President Donald Trump had announced the truce after days of escalating conflict that led to increased risk appetite among global investors, media had reported.
Global equity markets rallied as a key index of world shares hit a record high overnight. The euro also held firm close to its highest level since October 2021, which traded at $1.1621.
The Australian dollar also had gained and was traded 0.02% higher at $0.6492. Oil prices also witnessed sharp increase on Wednesday. It added further support to risk sentiment.
Brent crude futures was up by $1.31 or 2% to reach $68.45 per barrel as of 0750 GMT. US West Texas Intermediate (WTI) crude also rose by $1.24 or 1.9% to $65.61 per barrel.PKR to Dollar Rate in Pakistan on June 24, 2025
