The Pakistani rupee recorded a slight appreciation against the US dollar in the inter-bank market on Wednesday, closing at 278.00, a gain of Re0.01 from its previous close of 278.01. This marginal strengthening comes as the US dollar extended its global weakness after tumbling from a two-week high.
Internationally, the dollar struggled against major currencies, declining against the yen and seeing the euro and British pound gain. Concurrently, crude oil prices also rose, with Brent closing at its highest since June 12 and WTI since June 15, further increasing in early Wednesday trade.
This strengthening of the rupee against a globally weaker dollar, alongside rising oil prices, could potentially offer some stability to local gold prices in PKR terms, though international gold trends and broader economic factors remain key.
بحوالہ / Source: www.brecorder.com