Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee saw a slight gain against the US dollar in the inter-bank market on Friday.
At close, the currency settled at 281.26, a gain of Re0.01 against the greenback.
On Thursday, the local unit closed at 281.27.
Globally, the yen edged lower on Friday, trimming its sharpest weekly gain in more than four months, as traders considered the impact of potential rate increases by the Bank of Japan and a leadership election this weekend.
The US dollar rebounded overnight despite the closure of the US government, which has halted the publication of key economic data, including the closely watched monthly jobs report for September that was due to be released on Friday. Canada’s currency held near a four-month low on a slide in oil prices.
The yen slid 0.3% to 147.72 per dollar, still on track for a 1.2% advance this week that would be the biggest since mid-May.
The dollar index, which measures the greenback against a basket of key currencies, rose 0.1% to 97.90. The euro was up 0.1% at $1.1722. Sterling was little changed at $1.3437.
Markets were keeping a close eye on speeches by BOJ officials this week after the central bank’s tankan survey on Wednesday showed confidence among big manufacturers improved for the second straight quarter.
Traders see a 25-basis-point cut at the Fed’s October meeting as almost certain and are pricing in an 89% probability of an additional cut in December, according to the CME Group’s FedWatch Tool.
Oil prices, a key indicator of currency parity, were stable on Friday but were still headed for a weekly loss of about 7-8% after news of potential increases to OPEC+ supply.
Brent crude futures were up 29 cents, or 0.5%, at $64.40 a barrel by 1311 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.5%, at $60.75.
Inter-bank market rates for dollar on Friday
BID Rs 281.26
OFFER Rs 281.46
Open-market movement
In the open market, the PKR gained 5 paise for buying and remained unchanged for selling against USD, closing at 281.83 and 282.30, respectively.
Against Euro, the PKR gained 38 paise for buying and 18 paise for selling, closing at 330.23 and 333.52, respectively.
Against UAE Dirham, the PKR gained 7 paise for buying and lost 3 paise for selling, closing at 76.81 and 77.56, respectively.
Against Saudi Riyal, the PKR gained 6 paise for buying and lost 2 paise for selling, closing at 75.02 and 75.67, respectively.
Open-market rates for dollar on Friday
BID Rs 281.83
OFFER Rs 282.30
