International Dollar Index Rate Hits 20-Year High On Powell Lift

The  International Dollar Index rate appreciated past 109 on Monday, hitting its highest levels in 20 years, after Federal Reserve Chair Jerome Powell delivered a stern commitment to bring down inflation by keeping interest rates higher for longer in a policy speech at the Jackson Hole conference late last week.

Powell warned strongly against prematurely loosening policy amid data showing possible signs of peak inflation, noting that the Fed’s focus is broader than a month or two of data and that it will continue pushing ahead until inflation moves down closer to its 2% target.

International Dollar Index Rate:

He also acknowledged that the fight against inflation may cause some economic pain, but warned that “failure to restore price stability would mean far greater pain.”

Investors now look ahead to more speeches from other Fed officials this week, as well as the monthly US labor report and final manufacturing PMI readings for August.

Remember Early In Aug , 22

The dollar index firmed up above 108 approaching a 20-year high of 109.3 reached in July, underpinned by expectations that the Federal Reserve will continue to aggressively raise interest rates to bring down inflation.

Among the most hawkish statements so far, St. Louis Fed President James Bullard said Thursday he is considering support for a third straight 75-basis point rate hike in September and added he is not ready to say the economy has seen the worst of the inflation surge.

While Today Currency Rate In Pakistan:

Todays Currency Exchange Rates in Pakistan on 29 August 2022, Current Dollar rate in Pakistan, Latest currency rates of British Pound, Euro, Saudi Riyal, UAE Dirham, Canadian Dollar, Australian Dollar in Pakistan Rupees. All updated rates according to the open market currency rates.

Today currency rate in Pakistan according to international currencies as of 29th August 2022. The latest prices of USD to PKR, EUR to PKR, GBP to PKR, AUD to PKR are given at this page. These currency prices are provided by open market currency exchange dealers, and currency rates in Pakistan are updated four times every day to keep them fresh and relevant for users.

Today Currency Rate in Pakistan

Currency Buying Selling
Australian Dollar (AUD) 151.27 PKR 152.52 PKR
Bahrain Dinar (BHD) 578.03 PKR 582.53 PKR
British Pound (GBP) 267.60 PKR 270.50 PKR
Canadian Dollar (CAD) 167.88 PKR 169.23 PKR
Chinese Yuan (CNY) 31.72 PKR 31.97 PKR
Danish Krone (DKK) 29.41 PKR 29.76 PKR
Euro (EUR) 225.00 PKR 227.50 PKR
Hong Kong Dollar (HKD) 27.70 PKR 28.05 PKR
Indian Rupee (INR) 2.72 PKR 2.80 PKR
Japanese Yen (JPY) 1.73 PKR 1.78 PKR
Kuwaiti Dinar (KWD) 706.20 PKR 711.20 PKR
Malaysian Ringgit (MYR) 48.38 PKR 48.83 PKR
New Zealand Dollar (NZD) 135.06 PKR 136.26 PKR
Norwegians Krone (NOK) 22.67 PKR 22.97 PKR
Omani Riyal (OMR) 564.57 PKR 569.07 PKR
Qatari Riyal (QAR) 59.66 PKR 60.16 PKR
Saudi Riyal (SAR) 60.40 PKR 61.00 PKR
Singapore Dollar (SGD) 157.29 PKR 158.59 PKR
Swedish Krona (SEK) 20.46 PKR 20.76 PKR
Swiss Franc (CHF) 225.28 PKR 227.03 PKR
Thai Bhat (THB) 6.65 PKR 6.75 PKR
U.S. Dollar (USD) 228.00 PKR 230.00 PKR
UAE Dirham (AED) 62.50 PKR 63.00 PKR

About Haroon Khawaja

Haroon Khawaja Is a Journalist & CEO Of B-Trams , Ex Reporter At Geo News

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