The Pakistani rupee continued its upward trend against the U.S. dollar in the interbank market on Thursday.
According to the State Bank of Pakistan (SBP), by 10:00 AM, the local currency appreciated by Rs0.25 (0.09%), bringing the exchange rate to Rs280.8 per dollar.
A day earlier (Wednesday), the rupee had closed at Rs281.05 per dollar.
On the global front, the U.S. dollar remained steady on Thursday as investors awaited the release of U.S. consumer inflation (CPI) data due Friday, while keeping an eye on rising trade tensions between Washington and Beijing over tariffs.
Meanwhile, the Japanese yen weakened to a one-week low against the dollar as markets awaited details of Japan’s new Prime Minister Sanae Takaichi’s anticipated large-scale economic stimulus package.
Analysts noted that Takaichi is viewed as supportive of fiscal and monetary easing, which contributed to downward pressure on the yen.
