KARACHI: The Pakistani rupee on Wednesday remained largely stable against the US dollar, settling with a marginal gain of 0.01% in the interbank.
According to the State Bank of Pakistan (SBP), the local currency closed at 283.88, an increase of Rs0.04.
The rupee had registered a marginal decline against the US dollar on Tuesday, settling at 283.92 in the inter-bank market.
In a key development, according to data issued by the Pakistan Bureau of Statistics (PBS) on Tuesday, the Consumer Price Index (CPI)-based inflation clocking in at a record high of 36.4% on a year-over-year basis in April 2023 compared to a rise of 35.4% in the previous month and 13.4% in April 2022.
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In addition, the Pakistan Bureau of Statistics (PBS) reported that the country’s trade deficit decreased by 39.62% to $23.713 billion during the first 10 months (July-April) of the current fiscal year 2022-23 from $39.272 billion during the same time in 2017.
