The Pakistani Rupee (PKR) is taking advantage of a weaker US Dollar (USD). The US Dollar Pakistani Rupee (USD/PKR) exchange rate is trading -0.4% at 167.35.
The Pakistan Finance Ministry released an upbeat monthly economic bulletin, forecasting GDP to expand by 1% in Q1 of the current fiscal year. The ministry sees the covid induced recession coming to an end.
The US Dollar is lower across the board ahead of what is expected to be a dovish speech from Federal Reserve Chair Jerome Powell. Expectations are growing that Mr Powell will pre-announce an important shift in policy to Average Inflation Target (AIT)