Intra-day update: rupee marginally improves against US dollar

The Pakistani rupee registered some gain against the US dollar, appreciating 0.08% during the opening hour of trading in the inter-bank market on Wednesday.

At 10:20am, the rupee was hovering at 279.06, a gain of Re0.22 against the greenback.

On Tuesday, the rupee registered a marginal decline to settle at 279.28 against the US dollar, according to the SBP.

In a key development, Moody’s Investors Service, a global credit rating agency, on Tuesday said Pakistan’s credit rating “would likely be upgraded” if its government’s “liquidity and external vulnerability risks decreased materially and durably”.

The rating agency, in its announcement of the periodic review, also maintained Pakistan’s credit rating unchanged at ‘Caa3’ for long-term issuer rating, with a stable outlook.

Read more: https://www.brecorder.com/news/40291091/intra-day-update-rupee-marginally-improves-against-us-dollar