Pakistani rupee appreciates against US dollar in interbank

Business Report

KARACHI: The Pakistani rupee appreciated by 5 paisa against the US dollar in the interbank market on Wednesday.

According to forex dealers, the greenback is currently trading at Rs166.62 against the domestic currency at the interbank foreign exchange market.

The dollar had finished at Rs166.67 against the local unit on the other day.

On Tuesday, the dollar was marginally higher in narrow ranges against most currencies as renewed concerns and rising coronavirus cases put a dent in risk appetite.

The euro held onto gains against the greenback and the pound as investors await data on German investor sentiment to help gauge the pace of Europe’s recovery from the health crisis.

Currency trading has thinned out as a resurgence of novel coronavirus infections has caused some areas to place new restrictions on business activity.

The dollar stood at 107.26 yen on Tuesday following a 0.4% gain in the previous session.

The dollar traded at 0.9418 Swiss franc after eking out three consecutive sessions of narrow gains.