pkr-coins-forex-performance - PKR

The Pakistani Rupee is edging lower on Wednesday after four straight sessions versus the US Dollar. The Pakistani Rupee settled +0.3% versus the US Dollar on Tuesday at 159.55, a level last seen at the end of March.

At 10:15 UTC, USD/PKR is trading +0.1% higher at 159.70. This is approximately a mid-point in the daily traded range of 158.87 – 160.07.

Pakistan’s Covid-19 Cases Pass 20,000

The Pakistani Rupee is coming under pressure on Wednesday after the number of coronavirus cases in the county passed a concerning milestone. Pakistan reported that the number of confirmed infections has reached 22,413 with a death toll of 526. A record 40 deaths were recorded on Tuesday.

The data comes after Prime Minister Imran Khan announced earlier in the week that the country’s lockdown would be gradually lifted, as Pakistan’s economy can’t afford an indefinite closure.

The impact that covid-19 is expected to have on Pakistan’s economy varies according to different experts. Moody’s rating agency predicts that the economy will contract by -0.1% – -0.5%, the central bank is forecasting a -1.5% contraction whilst the IMF and World Bank expect a contraction in the region of -1.3% to -1.5%. The difference between the forecasts illustrates how challenging it is to forecast accurately whilst the outlook lacks visibility.

US Private Payrolls In Focus

The US Dollar is advancing across the board on Wednesday amid a mixed mood in the market and as investors look ahead to the release of the US ADP private payroll report. The ADP report is closely watched because it is a strong lead indicator for the US Labour Department’s non-farm payroll report due on Friday.

Analysts are expecting the private sector to show a drop of 20 million in April. To put this into context, it took the private sector almost a decade to create 20 million jobs. All the jobs created over 108 months will be wiped out in just 1 month. Initial jobless claims data over the past 6 weeks has provided plenty of warning over the extent of the damage that the coronavirus lock down is inflicting on the labour market. Even so, a weaker than forecast figure could move the US Dollar. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.