Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee continued to gain further ground against the US dollar, appreciating 0.01% in the inter-bank market on Friday.
At close, the currency settled at 280.82, a gain of Re0.03 against the greenback.
On Thursday, the local unit closed at 280.85.
Internationally, the US dollar retreated in early Asia trade on Friday, leading declines among major currencies as investors lacking official data on the US labour market seized upon signs of weakness in private sector surveys.
The dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.5% to 99.674, reversing its gains so far this month as bets mounted on a cut at the Fed’s next meeting on December 10.
With the US government shutdown postponing the release of the monthly non-farm payrolls report, traders have turned to private sector data showing the US economy shed jobs in October in the government and retail sectors, while cost-cutting and the adoption of artificial intelligence by businesses led to a surge in announced layoffs.
Trading in Fed funds futures implies a 70% chance of a cut at the US central bank’s next meeting, up from a 62% probability a day earlier, according to the CME Group’s FedWatch tool.
Against the yen, the dollar traded at 153.17 yen, 0.1% firmer compared to late US levels after data released on Friday showed Japanese household spending in September rose 1.8% from a year earlier, slightly worse than the median market forecast for a 2.5% rise.
Oil prices, a key indicator of currency parity, rose on Friday but remained on track for a second consecutive weekly loss after three days of declines on worries about excess supply and slowing US demand.
Brent crude futures rose 60 cents, or 1%, to $63.98 a barrel by 0904 GMT. US West Texas Intermediate crude was up 61 cents, or 1%, at $60.04.
Both benchmarks are poised to register weekly declines of more than 1.5% as leading global producers raise output.
