Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee recorded marginal gain against the US dollar, appreciating 0.01% in the inter-bank market on Friday.
At close, the local currency settled at 280.42, a gain of Re0.03 against the greenback.
On Thursday, the local unit closed at 280.45.
Internationally, the US dollar languished not far from a five-week low against its major peers on Friday as investors braced for a Federal Reserve rate cut next week.
Markets widely expect a quarter-point reduction when the policy-setting Federal Open Market Committee meets on December 9-10, and a focus will be on any signals about how much additional easing lies ahead.
The dollar index, which measures the currency against six rivals, was flat at 99.065 in Asia early.
A small gain overnight snapped a nine-day losing streak, but the index had dipped to a five-week low of 98.765 earlier that session, and it remains on course for a 0.4% decline this week.
Traders are pricing around 86% odds of a Fed cut next Wednesday, and potentially 2-3 more reductions next year, LSEG data showed.
Fed officials have been carefully watching the labour market to determine whether the economy needs further support.
Oil prices, a key indicator of currency parity, were steady on Friday, supported by stalled Ukraine peace talks, though gains were offset by expectations of a supply glut.
Brent crude was down 7 cents, or 0.1%, to $63.19 per barrel by 1255 GMT. US West Texas Intermediate dipped 10 cents, or 0.2%, to $59.57 a barrel.
Inter-bank market rates for dollar on Friday
BID Rs 280.42
OFFER Rs 280.62
Open-market movement
In the open market, the PKR gained 12 paise for buying and 5 paise for selling against USD, closing at 280.91 and 281.45, respectively.
Against Euro, the PKR gained 38 paise for buying and 33 paise for selling, closing at 326.68 and 329.68, respectively.
Against UAE Dirham, the PKR lost 1 paisa for buying and gained 3 paise for selling, closing at 76.55 and 77.32, respectively.
Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 74.82 and 75.44, respectively.
Open-market rates for dollar on Friday
BID Rs 280.91
OFFER Rs 281.45
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