Rupee Dips, PKR Holds Steady Amid Slowing Inflation
The Indian Rupee weakens to 83.96 vs USD, while PKR stays flat at 278.5. Key data shows rising FX reserves and inflation easing below 10% for Pakistan.
Published on 10 Sept 2024
, 1 minute read
Here’s this week’s overview of the Indian Rupee and Pakistani Rupee:
Indian Rupee
The Indian Rupee was a touch weaker at 83.96 against USD last week. Underlying data remains strong with activity PMIs and bank loan growth remaining in expansion and an increase in foreign exchange reserves.
Pakistani Rupee
PKR ended the week trading flat against USD at 278.5. There was a welcome slowdown in wholesale prices and inflation, which both now sitting below 10% on an annualised basis. This is a very positive shift considering inflation was over 30% this time last year.
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