- USD/PKR exchange rate was seen quoted higher at 155.00 (early Asia trading hours)
- Year-to-date Rupee has experienced double digit gains – +10.66%
- The benchmark equity index Karachi Stock Exchange KSE-100 Index closed up 0.22% at 40732 on Friday
- Key market themes like the trade talks, UK election and monetary policy decisions can stir the market volatility
Pakistani Rupee inches to 6-months high amid trade war easing pressures. On the foreign exchange market, Pakistani Rupee edged higher against the US dollar during last week’s trading activity settling at 154.69. Year-to-date Rupee has experienced double digit gains – +10.66%.
The State Bank of Pakistan (SBP) reported that during the previous week’s trading session the Pakistani Rupee was traded at Rs 156.00 against Rs 154.30 in the currency market.
Emerging market currencies, especially Asian currencies experienced a healthy rally driven in part by the short-term progress made in the US — China trade talks. In the long-term, market sentiment has not changed, as currency traders remain cautious ahead of the 15 December scheduled US tariff hikes on China imports.
|USD/PKR previous four days:||Rate – Average|
In the week ahead, another key market themes like the trade talks, UK election and monetary policy decisions can stir the market volatility. The US and China delegations have tried to reach a phase one trade deal for about a year. While, both sides face pressure to reach an agreement before the year end, it’s extremely unlikely the world’s two most powerful economies can reach a consensus in such a short period of time.
The benchmark equity index Karachi Stock Exchange KSE-100 Index closed up 0.22% at 40732 on Friday, and was seen trading on Monday morning Pakistan trading hours at 39957 up 1.71%. Year-to-day the Pakistan stock exchange market is up 9.89%. The Pakistan 10-year government bond yield gapped higher and closed at 11.549 versus 11.283 previous closing rates.
The dollar index was seen closing lower during last week’s trading session and settled at 98.68.