The US Dollar Pakistani Rupee (USD/PKR) exchange rate is on the rise, paring losses from Monday’s session. USD/PKR trades +0.5% at 168.60 as it remains close to its all-time high.
Pakistan’s current account surplus rose to $424 million in July, a 6-month high. Rising remittances, slowing covid infections and low imports contributed to the surplus.
Demand for the US Dollar has weakened versus its major peers in a risk on session thanks to improving US – China trade relations.
Investors will now look to US consumer confidence data for further clues as to the health of the US economic recovery.