Karachi: Contrary to the prevailing trend this week, the Pakistani currency gained 0.19% against the US dollar on the last trading day of the week.
The local currency settled at Rs 177.50 against the U.S. dollar, compared with a close of Rs 177.83 a day earlier.
The currency has been volatile this week due to geopolitical tensions and rising commodity prices, Samiullah Tariq, head of research at Pakistan-Kuwait Investments, told.
“Though the trade number was encouraging where monthly trade deficit was 10-month low, geopolitical tensions and rising commodity prices impacted the outlook for trade,” he said.
