{"id":109563,"date":"2021-04-15T12:00:42","date_gmt":"2021-04-15T11:00:42","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=109563"},"modified":"2021-04-15T12:09:14","modified_gmt":"2021-04-15T11:09:14","slug":"105590-usd-pkr-rupee-domestic-equities-hold-steady","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105590-usd-pkr-rupee-domestic-equities-hold-steady\/","title":{"rendered":"USD\/PKR: Rupee &#038; Domestic Equities Hold Steady"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/pkr-pakistani-rupee-live-exchange-rate\/\">Pakistan Rupee<\/a> (PKR) is treading water for a second session<\/strong><\/li>\n<li><strong>Remittances are expect to reach $27.28 billion this fiscal year<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) trades around 1 month low versus major peers<\/strong><\/li>\n<li><strong>US retail sales &amp; initial jobless claims coming up<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Pakistan Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/PKR<\/a>) exchange rate is inching higher for a second straight session after a relatively muted finish on Wednesday. The pair settled +0.03% higher in the previous session at 152.60. At 11:10 UTC, USD\/PKR trades +0.03% at 152.65.<\/p>\n<p>The Rupee is trading steady, in line with small movements in the domestic equity markets. The Karachi 100 has closed 0.1% lower.<\/p>\n<p>Broadly speaking, the Pakistan Rupee remains supported by strong remittances from overseas workers. Government officials have said that they are confident that foreign remittances are likely to reach $27.28 billion across the current fiscal year. The share of remittances in GDP increases to 10%.<\/p>\n<p>Worker remittances have risen by 26% over the first 9 months of this fiscal year.<\/p>\n<p>Oil prices are consolidating after strong gains in the previous session. Oil surged in its strongest one day session since March after both OPEC &amp; EIA raised their global demand outlook.<\/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 -0.02% at the time of writing at 91.63 as it hovers around its lowest level in a month.<\/p>\n<p>US Federal Reserve Chair Jerome Powell reiterated that the US central bank will keep interest rates new record lows in a speech on Wednesday. In a virtual event organized by the Economic Club of Washington, Fed Powell reassured the markets that a rate rise in 2022 was highly unlikely.<\/p>\n<p>Looking ahead there is plenty of data for investors to digest today. US retail sales are expected to reveal a rebound in consumer spending. Expectations are for a 6.3% jump in sales in March compared to February, after a -2.2% decline.<\/p>\n<p>US initial jobless claims will also be in focus after last week\u2019s unexpected rise in the number of American\u2019s seeking unemployment benefits.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan Rupee (PKR) is treading water for a second session Remittances are expect to reach $27.28 billion this fiscal year US Dollar (USD) trades around 1 month low versus major peers US retail sales &amp; initial jobless claims coming up The US Dollar Pakistan Rupee (USD\/PKR) exchange rate is inching higher for a second straight [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":83287,"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-109563","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 &amp; 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