Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered marginal improvement against the US dollar, appreciaiting 0.01% in the inter-bank market on Friday.
At close, the local currency settled at 279.62, a gain of Re0.03 against the greenback.
On Thursday, the local currency closed at 279.65, according to the State Bank of Pakistan (SBP).
Globally, the yen was set for its best week in almost 15 months on Friday, having climbed steadily after Japanese Prime Minister Sanae Takaichi’s historic election win allayed investor worries about the nation’s fiscal health.
A resurgent yen has been the main focus for the foreign exchange market this week, particularly as its rise confounded initial expectations that a selloff in the currency could gather pace if Takaichi secured a strong mandate.
It was last steady at 152.86 per US dollar, but was set to gain nearly 3% for the week, which would mark its largest advance since November 2024.
Against the euro, the yen was similarly poised for a 2.3% weekly jump, its strongest performance in a year. It was also up roughly 2.8% against the British pound for the week, its largest rise since July 2024.
Oil prices, a key indicator of currency parity, edged higher on Friday but were on track for a second weekly decline as concerns receded over the risks of a US-Iran conflict that could affect supply.
Brent crude futures gained 27 cents, or 0.4%, to $67.79 a barrel by 1110 GMT after falling 2.7% in the previous session. US West Texas Intermediate (WTI) crude rose 21 cents, or 0.3%, to $63.05 after a 2.8% decline the previous day.
Both benchmarks were poised to register weekly declines, with Brent and WTI set to drop by 0.3% and 0.7% respectively.
Inter-bank market rates for dollar on Friday
BID Rs 279.62
OFFER Rs 279.82
Open-market movement
In the open market, the PKR gained 2 paise for buying and 6 paise for selling against USD, closing at 280.16 and 280.66, respectively.
Against Euro, the PKR gained 38 paise for buying and 58 paise for selling, closing at 331.89 and 334.80, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and lost 2 paise for selling, closing at 76.55 and 77.29, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for both buying and selling, closing at 74.79 and 75.37, respectively.
Open-market rates for dollar on Friday
BID Rs 280.16
OFFER Rs 280.66
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