The greenback's recent slide has been led by investors ploughing money into higher-yielding currencies on optimism about a rapid economic recovery led by massive US stimulus.
Against a basket of currencies the dollar index hit a fresh 2-1/2 year low on Wednesday before firming about 0.1% to 89.575. The benchmark 10-year Treasury yields rose above 1% for the first time since March.
The decline in the US dollar is lifting prices for many commodities priced in the currency, supporting earnings from resource exports out of Australia and New Zealand.
In interbank trading, the price of euro appreciated by 12 paisas and closed at Rs. 196.14 against the last day’s trading of Rs. 196.02, State Bank of Pakistan reported.
In interbank trading, the price of euro appreciated by 15 paisas and closed at Rs. 195.87 against the last day’s trading of Rs. 195.72, State Bank of Pakistan reported.
Japan Post Insurance rose 11.79% after media reports that it would buy back $2.9 billion of its own shares from its parent Japan Post Holdings, whose shares rose 4.12%.
Among the changes, foreign companies are now allowed to explore for, and produce, oil and gas in China. The restriction on foreign firms seeking to carry out carbon emission assessment in China was also lifted.
Japan has booked a trade surplus of 366.8 billion yen ($3.5 billion) in November, the fifth consecutive monthly surplus, according to data released by the finance ministry before the opening bell, which prompted little reaction from investors.
Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs. 160.2 and Rs. 160.8 respectively.