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 41 cents, or 0.65%, to $63.79 a barrel by 1357 GMT. US West Texas Intermediate crude was up 46 cents, or 0.77%, at $59.89.
Inter-bank market rates for dollar on Friday
BID Rs 280.82
OFFER Rs 281.02
Open-market movement
In the open market, the PKR gained 10 paise for buying and 4 paise for selling against USD, closing at 281.31 and 281.85, respectively.
Against Euro, the PKR lost 66 paise for buying and 71 paise for selling, closing at 324.09 and 327.41, respectively.
Against UAE Dirham, the PKR gained 2 paise for buying and lost 2 paise for selling, closing at 76.67 and 77.44, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and remained unchanged for selling, closing at 74.96 and 75.59, respectively.
Open-market rates for dollar on Friday
BID Rs 281.31
OFFER Rs 281.85
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