Pakistani Rupee's Winning Streak: 11th Consecutive Gain Against US Dollar


 Blog Post 1:

Exciting news for Pakistan as the Pakistani Rupee continues its winning streak, securing an impressive 11th consecutive gain against the US Dollar in the inter-bank market. According to the State Bank of Pakistan (SBP), the Rupee settled at 282.20 after a gain of Re0.17. This positive trend follows a marginal increase recorded on the previous day, settling at 282.37 against the US Dollar.

Blog Post 2:
 Internationally, the US Dollar is facing pressure, and the euro is nearing a four-month peak amidst expectations of an imminent interest rate cut by the Federal Reserve. The Dollar index, measuring the US currency against six rivals, is at 101.54, close to its five-month low of 101.42. Markets are anticipating potential rate cuts from the Fed in the coming year, leading to a 1.9% drop in the Dollar index for 2023. 

Blog Post 3:

Despite recent attacks and tensions in the Middle East, oil prices have stabilized after significant gains. Brent Crude futures dipped by 0.21% to $80.90 a barrel, while US West Texas Intermediate Crude decreased by 0.45% to $75.23 a barrel. In the open market, the Pakistani Rupee strengthened further against the US Dollar, gaining 52 paisa for buying and 56 paisa for selling, closing at 280.79 and 283.20, respectively. The currency also exhibited gains against the Euro, UAE Dirham, and Saudi Riyal in the open market. 

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