Rupee registers marginal decline against dollar

Author: Agencies

The Pakistani rupee recorded a marginal decline against the US dollar, depreciating 0.02% in the inter-bank market on Wednesday. At close, the currency settled at 278.77 after a loss of Re0.05 against the greenback. The rupee closed at 278.72 on Tuesday, according to the State Bank of Pakistan (SBP). Internationally, the US dollar’s towering rally hit a speed bump on Wednesday as traders turned cautious ahead of a closely watched US consumer inflation report due later in the day, making them hesitant to take on new positions. The greenback was stabilising in the early Asian session after falling overnight and edging away from a more than two-year peak hit against a basket of currencies at the start of the week.

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