Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Friday.
At close, the local currency settled at 279.31, a gain of Re0.01 against the greenback.
On Thursday, the local unit closed at 279.32.
Globally, the dollar held gains on Friday and was set for its second weekly gain since the beginning of the war in Iran as turmoil in markets left it the last safe-haven standing.
The euro traded near its weakest since November, while the yen was at levels that put traders on guard for possible intervention by authorities in Japan.
The dollar index, which measures the greenback against a basket of currencies, reached the highest level since November, thanks in part to its safe-haven appeal, but also because the United States is a net energy exporter.
The index fell 0.04% to 99.63 in early trading in Asia, poised for a 0.8% gain this week.
The euro was up 0.13% at $1.1525.
The yen strengthened 0.17% to 159.08 per dollar after touching 159.43 on Thursday, the weakest since January 14. Sterling was up 0.11% to $1.3356.
Furthermore, oil prices headed for weekly gains as of Friday, despite the US trying to ease supply concerns by issuing a 30-day license for countries to buy Russian oil and petroleum products stranded at sea.
Brent futures for May rose 10 cents, or 0.1%, to $100.56 a barrel by 0400 GMT, heading for about a 9% weekly increase.
US West Texas Intermediate (WTI) crude for April was down 16 cents, or 0.2%, at $95.57 a barrel, though also poised for a 7% uptick for the week.
Inter-bank market rates for dollar on Friday
BID Rs 279.31
OFFER Rs 279.51
Open-market movement
In the open market, the PKR lost 2 paise for buying and gained 1 paisa for selling against USD, closing at 279.53 and 280.36, respectively.
Against Euro, the PKR gained 1.08 rupee for buying and 1.27 rupee for selling, closing at 320.69 and 324.34, respectively.
Against UAE Dirham, the PKR lost 2 paise for buying and gained 4 paise for selling, closing at 75.79 and 76.74, respectively.
Against Saudi Riyal, the PKR lost 5 paise for buying and gained 9 paise for selling, closing at 73.92 and 74.83, respectively.
Open-market rates for dollar on Friday
BID Rs 279.53
OFFER Rs 280.36
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