The US dollar rate in Pakistan experienced a slight increase on Thursday, November 28. Specifically, the dollar climbed by Rs0.08 (eight paisa) against the Pakistani rupee. This movement brought the US dollar rate in Pakistan to Rs278.04 in the interbank market. The State Bank of Pakistan (SBP) confirmed the rise. On Wednesday, the rupee closed at a value of 277.96, accordingly to SBP data.
Global Factors Weaken the Dollar (H2)
First, global and local factors influence the dollar’s movement. The US Thanksgiving holiday affects global trading activity. Consequently, trade thinning is expected to continue for the rest of the week. Furthermore, corporate dollar purchases decreased. Traders observed a reduction after businesses met their month-end needs.
The US dollar weakened broadly across global markets. The US dollar index dropped nearly 0.8% overnight. Subsequently, it fell to a value of 106.13. US Treasury yields also fell overnight. Moreover, this put additional pressure on the dollar’s value. New US personal consumption expenditure data showed a 0.2% month-on-month rise. Therefore, this figure was in line with market expectations.
How Other Currencies Impact Pakistan
Other major global currencies are also seeing shifts. The euro maintained its strongest gain in four months. Hawkish comments from a central bank policymaker drove this stability. Meanwhile, the Japanese yen advanced toward a significant performance. It is nearing its best performance in three months. Rising speculation suggests Japan might increase interest rates in December. These global movements slowed the dollar’s recent rebound. Thus, the overall market shows a complex mix of pressures. Clearly, understanding the US dollar rate in Pakistan requires tracking these international shifts.
🇵🇰 What’s Next for the Rupee?
The rupee’s stability remains a key focus. The SBP closely monitors any movement in the interbank rate. However, the recent increase in the US dollar rate in Pakistan is minor. Future trends will depend on domestic policy and international market changes. Investors must track global interest rate decisions. Finally, these decisions will continue to impact currency valuations.
READ MORE :Dollar Rate in Pakistan