Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal gain against the US dollar in inter-bank market on Friday.
At close, the local currency settled at 278.61, a gain of Re0.01 against the greenback.
On Thursday, the local unit closed at 278.62.
Meanwhile, the dollar rode U.S. Treasury yields higher on Friday and was set for its biggest weekly gain in more than two months, as mounting inflationary pressures from higher energy prices fuelled bets on a Federal Reserve rate hike this year.
Against the greenback, the euro fell to a one-month low of $1.1635 and was set to lose more than 1.2% for the week.
The yen struggled on the weaker side of 158 per dollar despite domestic data pointing to a spike in wholesale inflation, bolstering the case for the Bank of Japan to raise interest rates as soon as June.
It was last 0.16% lower at 158.60 per dollar.
The Australian and New Zealand dollars also fell heavily, with the Aussie down 0.8% to $0.7162, while the kiwi slid 0.82% to $0.5863.
Oil prices gained about 2% on Friday after comments from U.S. President Donald Trump and Iran’s foreign minister further dented hopes of a deal to end ship attacks and seizures around the Strait of Hormuz.
Brent crude futures gained $2.50, or 2.4%, to $108.22 a barrel by 1139 GMT. U.S. West Texas Intermediate futures were up $2.86, or 2.4%, at $104.03.
Inter-bank market rates for dollar on Friday
BID Rs 278.61
OFFER Rs 278.81
Open-market movement
In the open market, the PKR gained 2 paise for buying and 4 paise for selling against USD, closing at 279.03 and 279.82, respectively.
Against Euro, the PKR gained 1.97 rupee for buying and 1.75 rupee for selling, closing at 324.21 and 327.47, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying selling, closing at 75.92 and 76.75, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for both buying and selling, closing at 74.24 and 74.97, respectively.
Open-market rates for dollar on Friday
BID Rs 279.03
OFFER Rs 279.82
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