Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee recorded marginal improvement against the US dollar, appreciating 0.01% in the inter-bank market on Friday.
At close, the currency settled at 280.62, a gain of Re0.03 against the greenback.
On Thursday, the local unit closed at 280.65.
Internationally, the US dollar was on track for its best week in over a month on Friday as investors wagered the Federal Reserve is unlikely to cut rates next month, with the case for further easing made no clearer by a confounding US jobs report.
The release of the delayed US nonfarm payrolls report on Thursday painted a mixed picture of the country’s labour market, showing employment growth accelerated in September, but the jobless rate rose to 4.4%, its highest level in four years.
That reinforced the view that the Fed is likely to hold off on cutting rates at its December meeting, as policymakers continue to sail through an economic fog brought about by the US government shutdown.
Against the dollar, the euro was pinned near a two-week low and last bought $1.1528, on track for a weekly decline of 0.8%.
The dollar index, which measures the greenback against a basket of peers, flirted with a 5-1/2-month peak and last stood at 100.20. It was on track to clock a weekly gain of 0.9%, its best performance in over a month.
Oil prices, a key indicator of currency parity, fell on Friday, extending declines for a third session as the United States pushed for a Russia-Ukraine peace deal that could swell global supply while uncertainty over interest rates curbed investors’ risk appetite.
Brent crude futures dropped by $1, or around 1.6%, to $39 a barrel by 1417 GMT. US West Texas Intermediate crude was down around 1.9%, or $1.10, at $57.90.
Inter-bank market rates for dollar on Friday
BID Rs 280.62
OFFER Rs 280.82
Open-market movement
In the open market, the PKR gained 1 paisa for buying and 5 paise for selling against USD, closing at 281.29 and 281.65, respectively.
Against Euro, the PKR lost 46 paise for buying and 32 paise for selling, closing at 324.10 and 326.95, respectively.
Against UAE Dirham, the PKR lost 1 paisa for both buying and selling, closing at 76.62 and 77.39, respectively.
Against Saudi Riyal, the PKR lost 4 paise for buying and remained unchanged for selling, closing at 74.94 and 75.52, respectively.
Open-market rates for dollar on Friday
BID Rs 281.29
OFFER Rs 281.65
