The Pakistani rupee appreciated by Re0.03, settling at 277.87 against the US dollar on Friday, extending its marginal gains from Thursday's close of 277.90. Globally, the US dollar gained strength, riding higher on US Treasury yields and nearing a 40-year peak against the yen. This dollar resurgence was fueled by oil prices climbing above $100 a barrel for the first time since May, following Houthi attacks on Saudi oil tankers in the Red Sea. Rising oil prices and a stronger dollar could put upward pressure on imported inflation in Pakistan, potentially affecting the local gold market and the rupee's stability.
بحوالہ / Source: www.brecorder.com