{"id":109803,"date":"2021-05-05T11:29:08","date_gmt":"2021-05-05T10:29:08","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=109803"},"modified":"2021-05-05T11:56:01","modified_gmt":"2021-05-05T10:56:01","slug":"105645-usd-pkr-rupee-traces-domestic-equities-higher","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105645-usd-pkr-rupee-traces-domestic-equities-higher\/","title":{"rendered":"USD\/PKR: Rupee Traces Domestic Equities Higher"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/pkr-pakistani-rupee-live-exchange-rate\/\">Pakistan Rupee<\/a> (PKR) advances, Karachi 100 trades +0.85%<\/strong><\/li>\n<li><strong>External debt servicing to remain above $10 p.a<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) extends gains versus major peers<\/strong><\/li>\n<li><strong>US ISM services PMI, ADP payroll data due<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Pakistan Rupee (<a href=\"https:\/\/currencylive.com\/\">USD\/PKR<\/a>) exchange rate is resuming its downward trend on Wednesday after briefly spiking higher on Tuesday. \u00a0The pair settled +0.33% higher on Tuesday at 153.35. At 11:00 UTC, USD\/PKR trades -0.4% at 152.75 towards the low of the day.<\/p>\n<p>The Rupee is tracing the equities market higher. The Karachi 100 trades +0.85% at the time of writing.<\/p>\n<p>Separately the Finance ministry warned that external debt servicing will remain above $10 billion per year for the next two years to meet mounting foreign debt obligations. These include loans from the United Arab Emirates and China.<\/p>\n<p>Meanwhile the International Monetary Fund programme which had been derailed for a year, is being reviewed after its revival just one month ago. The IMF is expecting a further increase in energy prices and new taxes to be implemented, measures which the Finance Minister is opposed to.<\/p>\n<p>The US Dollar is falling versus the Rupee. However, the US Dollar is rising versus its major peers. The US Dollar Index, which measures the greenback versus a basket of major currencies trades +0.04% at the time of writing at 91.32 extending gains from the previous session.<\/p>\n<p>The US Dollar trades around two-week highs following hawkish comments from US treasury secretary Janey Yellen in the previous session. Yellen hinted that an interest rate rise could be necessary to stop the US economy from overheating. She then later attempted to back track the comments. However, the US Dollar charged higher anyway.<\/p>\n<p>The US economic calendar is busy today. US ADP Employment data is expected to show a solid increase of 872,000 new private sector jobs in April. This would be up from 517,000 new jobs reported in March.<\/p>\n<p>The ISM services PMI is expected to show an acceleration in service sector activity from an already elevated in March of 63.7. Whilst the employment component of this report also considered a lead indicator for Friday\u2019s non-0farm payroll.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan Rupee (PKR) advances, Karachi 100 trades +0.85% External debt servicing to remain above $10 p.a US Dollar (USD) extends gains versus major peers US ISM services PMI, ADP payroll data due The US Dollar Pakistan Rupee (USD\/PKR) exchange rate is resuming its downward trend on Wednesday after briefly spiking higher on Tuesday. \u00a0The pair [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82252,"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-109803","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 - 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