The US Dollar Pakistani Rupee (USD/PKR) exchange rate is trading +0.24% higher at 166.40, extending gains from Tuesday.
International rating agency Fitch warned that Pakistan’s remittances could fall despite the economic recovery. Fitch forecasts the current account deficit widening to 1.7% of GDP in the 2021 fiscal year.
The US Dollar was advancing across the board owing to sharp declines in European currencies, particularly the Pound owing to Brexit fears.
The mood in the market has improved after yesterday’s tech stock sell off. With no data due, sentiment will drive the greenback today.