The US Dollar Pakistan Rupee (USD/PKR) exchange rate is trading +0.6% at 166.38, after declining -0.2% in the previous session.
Rising oil prices are adding pressure to the Rupee. Oil has jumped over 5% across the past two sessions after the API reported a huge draw on inventories -9.5 million barrels vs 2.04 million increase expected and as production is disrupted in the Gulf of Mexico.
US Federal Reserve will announce its monetary policy decision later today. No change in policy is expected. The new economic projections will be closely watched.