The US Dollar Pakistani Rupee (USD/PKR) exchange rate is trading higher, adding to Thursday’s gains. The pair trades at 165.70, off daily highs.
Pakistan exports dived -19.5% in August yoy whilst imports plunged 20%. The Commerce Ministry discussed the severe rainfall and flooding in unprecedented monsoon rains as a reason for the sharp decline.
Attention will now turn to the US non-farm payroll report. Expectations are for 1.4 million new hires in August a slow down from 1.76 million in July as the recovery slows. The unemployment rate is due to fall to 9.8%, down from 10.2%.