Early trade: PKR up by 17 paisa against US dollar

KARACHI: The Pakistani rupee (PKR) recorded marginal improvement against the US dollar (USD) as the home unit was seen 0.06 per cent up during the early trading hours in the interbank market on Friday.

In the morning, the local currency was hovering at Rs277.68, a gain of 17 paisa against the USD.

On the previous trading day (Thursday), the PKR had settled at Rs277.85, according to the State Bank of Pakistan (SBP), after recording a loss of 5.77 paisa against the dollar.

During the ongoing fiscal year, the rupee has gained or 0.18 per cent or 49.12 paisa in total, against the US dollar. On the flip side, the PKR has seen an increase of Rs4 or 1.44 per cent during the calendar year.

Globally, the greenback steadied against other currencies on the first trading day of the month, as investors awaited the US jobs report to confirm economic resiliency heading into the Federal Reserve’s monetary policy meeting and a close-call US presidential election next week.

The US dollar started the month off at a lower level after coming under pressure against the yen on Thursday.

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