Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee strengthened against the US dollar, appreciating 0.01% in the inter-bank market on Friday.
At close, the local currency settled at 280.02, a gain of Re0.03 against the greenback.
On Thursday, the local unit closed at 280.05.
Internationally, the US dollar advanced at the start of the Asian session on Friday, as traders awaited the release of the latest US jobs report and braced for a forthcoming US Supreme Court decision on President Donald Trump’s use of emergency tariff powers.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was up 0.2% at 98.883, rising for a third consecutive day.
The looming US non-farm payrolls report for December will dispel much of the data fog that persisted during the government shutdown, but analysts said nuances in the data may do little to clarify the path forward for interest rates.
Weekly jobless claims data released on Thursday showed a marginal increase in applications for unemployment benefits.
Fed funds futures are pricing an implied 89% probability that the U.S. central bank holds interest rates at its next two-day meeting on January 27-28, compared to a 68% chance a month ago, according to the CME Group’s FedWatch tool.
Meanwhile, the US Supreme Court could issue a ruling later in the day, which would determine whether Trump can invoke the International Emergency Economic Powers Act (IEEPA) to impose tariffs without congressional approval, potentially upending US trade policy and throwing months of negotiations into disarray.
Against the yen, the dollar was at 156.885 yen.
Oil prices, a key indicator of currency parity, rose on Friday on concerns about potential disruption to Iran’s output and uncertainty about supply from Venezuela.
Brent futures were up 43 cents, or 0.7%, to $62.42 per barrel at 1106 GMT, while US West Texas Intermediate (WTI) crude was up 41 cents, or 0.7%, to $58.17.
Both benchmarks climbed more than 3% on Thursday, following two straight days of declines. For the week, Brent is on track to climb 2.8%, while WTI has gained 1.5%.
Inter-bank market rates for dollar on Friday
BID Rs 280.02
OFFER Rs 280.22
Open-market movement
In the open market, the PKR gained 3.00 paisa for buying and 5.00 paisa for selling, closing at 280.40 and 281.05, respectively.
Against Euro, the PKR gained 78.00 paisa for buying and 81.00 paisa for selling, closing at 326.68 and 329.82, respectively.
Against UAE Dirham, the PKR lost 2.00 paisa for buying and gained 3.00 paisa for selling, closing at 76.49 and 77.22, respectively.
Against Saudi Riyal, the PKR lost 2.00 paisa for buying and gained 1.00 paisa for selling, closing at 74.82 and 75.40, respectively.
Open-market rates for dollar on Friday
BID Rs 280.40
OFFER Rs 281.05
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