{"id":109514,"date":"2021-04-14T12:03:20","date_gmt":"2021-04-14T11:03:20","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=109514"},"modified":"2021-04-14T12:03:44","modified_gmt":"2021-04-14T11:03:44","slug":"105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\/","title":{"rendered":"USD\/PKR: Rupee Slips, Cabinet Approves Budget Strategy"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/pkr-pakistani-rupee-live-exchange-rate\/\">Pakistan Rupee<\/a> (PKR) held steady on Tuesday<\/strong><\/li>\n<li><strong>Pakistan\u2019s Federal government downwardly revises economic outlook<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) edging lower as inflation expectations ease<\/strong><\/li>\n<li><strong>Fed Powell due to speak later<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Pakistan Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/PKR<\/a>) exchange rate is pushing higher after a relatively muted finish on Tuesday. The pair settled -0.03% lower in the previous session at 152.55. At 11:10 UTC, USD\/PKR trades +0.15% at 152.85.<\/p>\n<p>The Federal government approved its budget strategy for the coming fiscal year and the outlook ios slightly more downbeat than previous. The target for 2021-22, the first year of the three year plan show a 4.2% economic growth target whilst inflation is set to reach 8%. The federal budget is expected to reach Rs8.1 trillion, up by 13% from this year. The government had initially aimed for economic growth of 4.6% and inflation of 8%.<\/p>\n<p>Domestic equities pushed higher on Wednesday. The benchmark Karachi 100 index closed 0.5% higher amid an upbeat mood in the global financial markets.<\/p>\n<p>Oil prices are on the rise after the EIA raised its demand outlook to 5.95 million barrels per day, up from 5.89 million. West Texas Intermediate trades +1.7%.<\/p>\n<p>The US Dollar is rising versus the Rupee. However, it is falling versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies trades -0.08% at the time of writing at 91.78, its lowest level in over three weeks.<\/p>\n<p>The US Dollar is tracing US treasury yields lower as inflation expectations ease. Yesterday\u2019s inflation data, the consumer price index came in ahead of forecasts with a 0.6% rise month on month in February. This is the largest increase in 8 years. However, it was a smaller overshoot than what the market was anticipating and is not likely to change the Fed\u2019s stance on monetary policy.<\/p>\n<p>This combined with soothing words from Federal Reserve Chair Jerome Powell over the past few weeks has helped ease market fears surrounding inflation.<\/p>\n<p>Looking ahead, Federal Reserve Chair Jerome Powell is due to speak which could drive movement in the US Dollar.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan Rupee (PKR) held steady on Tuesday Pakistan\u2019s Federal government downwardly revises economic outlook US Dollar (USD) edging lower as inflation expectations ease Fed Powell due to speak later The US Dollar Pakistan Rupee (USD\/PKR) exchange rate is pushing higher after a relatively muted finish on Tuesday. The pair settled -0.03% lower in the previous [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82321,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1863,1381],"tags":[1864,1398,1866],"class_list":{"0":"post-109514","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-pkr","8":"category-usd","9":"tag-pkr","10":"tag-usd","11":"tag-usd-pkr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/PKR: Rupee Slips, Cabinet Approves Budget Strategy - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/PKR: Rupee Slips, Cabinet Approves Budget Strategy\",\"datePublished\":\"2021-04-14T11:03:20+00:00\",\"dateModified\":\"2021-04-14T11:03:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\\\/\"},\"wordCount\":345,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-pkr-exchange-rate.jpg\",\"keywords\":[\"pkr\",\"usd\",\"usd\\\/pkr\"],\"articleSection\":[\"PKR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105587-usd-pkr-rupee-slips-cabinet-approves-budget-strategy\\\/\",\"name\":\"USD\\\/PKR: Rupee Slips, Cabinet Approves Budget Strategy - 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