Rupee Resilience Amid Dollar Weakness

Here’s this week’s overview of the Indian Rupee and Pakistani Rupee:

Indian Rupee

The Indian Rupee closed flat at 83.4 against USD last week. There was an unexpected decrease in foreign exchange reserves but both manufacturing and services PMIs remained robust. The Rupee then benefited from a weaker dollar later in the week.

Pakistani Rupee

PKR ended the week trading flat against USD at 278. Inflation data showed a re-acceleration in price pressures in June after some positive moves earlier the year, which is unwelcome news. The trade deficit also widened, PKR did benefit, however, from a broadly weaker dollar.