• Pakistani Rupee (PKR) treads water after falling across the previous week
  • Coronavirus deaths fall by 87% from peak
  • US Dollar (USD) trades lower amid growing concerns that rising covid cases will undermine the fragile economic recovery
  • US durable goods up next, expected to show 6.5% increase

The US Dollar Pakistani Rupee (USD/PKR) exchange rate is edging a few points lower, after rallying across the previous week. The pair gained +0.4% last week, closing on Friday at 167.1. At 08:45 UTC, USD/PKR trades -0.04% at 167.02.

The number of coronavirus deaths in Pakistan dropped to 20 on Monday. According to Special Assistant to the Prime Minister on National Health Services Dr Zafa Mirza this is the lowest single day death toll in 3 months and is an 87% decline from the peak on June 20th.  Pakistan’s total death toll stands at 5,842 with just shy of 275,000 cases.

Government officials have announced that the declining number of covid cases and deaths are indicators that the governments’ applied measures are working, and the pandemic situation is improving across the country.

Despite the fact that Pakistan is on the downward side of the covid curve authorities have expressed concerns that the situation could still take a turn for the worse if precautionary measures are flouted in Eidul Azha.

The US Dollar is under pressure across the board dragged lower by rising US coronavirus cases lifting concerns that the fragile economic recovery in the US could be undermined by the need to lockdown more areas. Last week data indicated that the recovery in the US labour market had stalled as the number of coronavirus cases topped 4 million.

Intensifying US – China troubles are also affecting demand for the US Dollar. This is a change of course from previously when the greenback would rise on heightened geopolitical tensions. Over the weekend China closed the US consulate in Chengdu following the US closure of the Chinese consulate in Houston. Fears are growing that the Phase 1 trade deal could soon collapse as relations between the two powers sour.

Looking ahead US durable goods orders will be under the spotlight. Analysts are expecting a decent 7.2% increase in June following an impressive 15.7% rebound in May. A strong reading could help boost 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.