USD/PKR refers to the US Dollar/ Pakistani rupee currency pair. PKR is the national currency of Pakistan....
In 1947, when Pakistan gained independence from Britain and separated from India, the PKR was introduced. To begin with, it was pegged to the British pound, though in 1982 it transitioned to a managed float policy, enabling the central bank of Pakistan to intervene to keep the price within set parameters. Ever since the 2008 financial crisis, the Pakistani rupee has depreciated against the US dollar. This has been worsened by Pakistan’s sizable current account deficit, crumbling energy infrastructure and its low foreign exchange reserves. Moreover, it has no strong correlations with other currency or commodity markets. Due to the fragility of the Pakistani economy, USD/PKR is an exotic currency pair that is not used for many global transactions and has a low trading volume. However, the PKR has been upgraded to emerging market currency status, due to its growing working population and strengthening economic ties with China. This has borne fruit with CPEC, the China-Pakistan Economic Corridor of oil and gas pipelines, rail, and road infrastructure as well as with the One Belt One Road initiative, focused on economic development and connectivity across Asia, Africa, and Europe.
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The USD/PKR has hit a higher price level in the past handful of days.
USD/PKR value as of this morning is fractionally higher than yesterday’s apex values
The USD/PKR has been moving at a snail’s pace this week.
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As of this morning’s writing the USD/PKR is near the 277.8537 mark per the official Pakistan government listed price.
The US dollar has drifted a little bit lower during the trading session on Friday.
The USD/PKR has actually turned in a rather fascinating move lower.
After trading near a value of 278.4860 yesterday the USD/PKR moved to a depth of nearly 278.0000 briefly as the U.S Federal Reserve held its interest rate policy in place.
The US dollar has drifted ever so slightly to the downside against the Pakistani Rupee during the trading session on Monday.
USD/PKR: Upper Limit Near 279.4360, Expertise Vital.
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The US dollar continues to be very flat against the Pakistani rupee, which makes sense considering that it is a highly manipulated currency by the central bank in Pakistan.
A high was touched in the USD/PKR yesterday near the 279.4390 value briefly.
The USD/PKR has a listed price as of this moment near 279.3800 which is very close to what the value of the currency pair was last week.
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Sign up to get the latest market updates and free signals directly to your inbox.Support levels for the USD/PRK recently have tested the 279.0020 earlier this morning and on Friday of last week.