US dollar rate in Pakistan up by Re0.08 to Rs279.28 on Feb 27

US dollar rate in Pakistan up by Re0.08 to Rs279.28 on Feb 27

US dollar rate in Pakistan up by Re0.08 to Rs279.28 on Feb 27

US dollar rate in Pakistan up by Re0.16 to Rs279.28 on Feb 27

Advertisement

KARACHI: The US dollar rate in Pakistan marginally strengthened by Re0.08 (08 paisa) to Rs279.28 against the Pakistani rupee in the interbank market on Tuesday (Feb 27).

At close, the local unit settled at 279.28, a loss of Re0.08 against the greenback, as per the State Bank of Pakistan (SBP).

Globally, the US dollar traded on the back foot on Tuesday, as markets looked ahead to a week of US economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates.

The US dollar index, which measures the currency against a basket of peers including the euro and yen, traded flat at 103.77 in Asian time, following a 0.17% slide on Monday.

Markets have all but ruled out a cut at the Fed’s March meeting and have recently pushed back expectations for a cut to June from May, CME’s FedWatch Tool showed, following strong US consumer and producer price data.

Advertisement
Advertisement
Read More News On

Catch all the Business News, Pakistan News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Follow us on Google News.


End of Article

Next Story