AIRLINK 184.92 Decreased By ▼ -0.27 (-0.15%)
BOP 9.61 Decreased By ▼ -0.32 (-3.22%)
CNERGY 7.26 Decreased By ▼ -0.03 (-0.41%)
FCCL 36.43 Decreased By ▼ -0.21 (-0.57%)
FFL 14.34 Decreased By ▼ -0.19 (-1.31%)
FLYNG 24.28 Decreased By ▼ -0.64 (-2.57%)
HUBC 126.41 Decreased By ▼ -0.42 (-0.33%)
HUMNL 12.80 Decreased By ▼ -0.27 (-2.07%)
KEL 4.29 Decreased By ▼ -0.03 (-0.69%)
KOSM 5.94 Decreased By ▼ -0.12 (-1.98%)
MLCF 42.27 Decreased By ▼ -0.62 (-1.45%)
OGDC 198.51 Increased By ▲ 3.07 (1.57%)
PACE 6.08 Decreased By ▼ -0.21 (-3.34%)
PAEL 37.75 Decreased By ▼ -0.21 (-0.55%)
PIAHCLA 17.09 Increased By ▲ 0.19 (1.12%)
PIBTL 7.74 Decreased By ▼ -0.05 (-0.64%)
POWER 9.22 Decreased By ▼ -0.17 (-1.81%)
PPL 168.09 Increased By ▲ 0.20 (0.12%)
PRL 32.75 Decreased By ▼ -1.27 (-3.73%)
PTC 22.42 Decreased By ▼ -0.09 (-0.4%)
SEARL 101.88 Decreased By ▼ -2.09 (-2.01%)
SILK 1.07 Decreased By ▼ -0.12 (-10.08%)
SSGC 35.53 Decreased By ▼ -0.42 (-1.17%)
SYM 17.92 Decreased By ▼ -0.18 (-0.99%)
TELE 8.17 Increased By ▲ 0.15 (1.87%)
TPLP 11.70 Increased By ▲ 0.07 (0.6%)
TRG 66.12 Decreased By ▼ -0.04 (-0.06%)
WAVESAPP 11.79 Decreased By ▼ -0.34 (-2.8%)
WTL 1.53 Increased By ▲ 0.01 (0.66%)
YOUW 3.79 Decreased By ▼ -0.02 (-0.52%)
BR100 11,609 Increased By 39.9 (0.34%)
BR30 34,116 Increased By 81.8 (0.24%)
KSE100 110,323 Increased By 21.8 (0.02%)
KSE30 34,411 Increased By 24.5 (0.07%)
Markets

Rupee registers gain against US dollar

  • Currency settles at 278.71 against the greenback in inter-bank market
Published January 17, 2025

The Pakistani rupee marginally improved against the US dollar, appreciating 0.05% in the inter-bank market on Friday.

At close, the currency settled at 278.71 after a gain of Re0.15 against the greenback.

The rupee closed at 278.86 on Thursday, according to the State Bank of Pakistan (SBP).

Globally, the Japanese yen was poised for its strongest weekly performance in over a month as expectations grow that the Bank of Japan will raise rates next week, putting the US dollar on the back foot ahead of Donald Trump’s return to the White House.

The yen has climbed 1.5% against the US dollar this week, its strongest weekly run since late November. It was last a tad weaker at 155.34 per dollar on Friday but still close to the one-month high of 155.10 it touched on Thursday.

The euro was steady at $1.03035 and sterling was little changed at $1.22355 in early trading.

That left the dollar index, which measures the US currency against six other units, at 108.94, inching away from a high of more than two years touched at the start of the week.

The index is set for a 0.6% drop in the week, which would snap a six-week winning streak, after traders started pricing in the prospect of two rate cuts this year in the wake of an easing US core inflation data on Wednesday.

The Federal Reserve last month projected two rates in 2025.

But data on Thursday showed US retail sales increased in December, pointing to strong consumer demand and lending strength to the view that the Fed should be cautious in its approach to cutting rates this year.

Oil prices, a key indicator of currency parity, rose on Friday, heading for a fourth consecutive week of gains as the latest US sanctions on Russian energy trade hit supply, pushing up spot trade prices and shipping rates.

Brent crude futures were trading 55 cents or 0.7% higher at $81.84 per barrel as of 0804 GMT and have gained 2.6% so far this week.

US West Texas Intermediate crude futures were up 72 cents or 0.9% at $79.4 a barrel, having climbed 3.6% for the week.

Inter-bank market rates for dollar on Friday

BID                            Rs 278.71

OFFER                      Rs 278.91

Open-market movement

In the open market, the PKR gained 5 paise for buying and lost 5 paise for selling against USD, closing at 279.32 and 280.99, respectively.

Against Euro, the PKR gained 77 paise for buying and lost 2 paise for selling, closing at 287.17 and 289.86, respectively.

Against UAE Dirham, the PKR gained 6 paise for buying and lost 1 paisa for selling, closing at 75.96 and 76.51, respectively.

Against Saudi Riyal, the PKR gained 6 paise for buying and remained unchanged for selling, closing at 74.24 and 74.75, respectively.

Open-market rates for dollar on Friday

BID                            Rs 279.32

OFFER                      Rs 280.99

Comments

200 characters