Pakistani rupee records gain against US dollar
- Settles at 277.96
The Pakistani Rupee gained slightly against the US Dollar, closing at 277.96. This occurred as the US dollar faced a weekly decline amid easing inflation concerns and other global currency movements.
- Pakistani Rupee's performance against the US Dollar.
- Pakistan's current account deficit in FY26.
- Global dollar trends and Federal Reserve rate hike expectations.
The Pakistani rupee extended its gains against the US dollar on Friday.
The local unit closed the day at 277.96, a gain of Re0.01 against the greenback.
On Thursday, the Pakistani rupee settled at 277.97 against the greenback.
Pakistan’s current account recorded a marginal deficit of $139 million in FY26, reversing a surplus of $1.84 billion in the previous fiscal year, according to data released by the State Bank of Pakistan (SBP) on Friday.
Despite record workers’ remittances, Pakistan’s external account was pushed into negative due to high imports, while exports remained largely stagnant during the outgoing fiscal year.
Internationally, the dollar held steady on Friday but was poised for a weekly decline as a softer-than-expected U.S. inflation report this week led traders to cut bets on imminent rate hikes from the Federal Reserve.
In currency markets, the euro was at $1.1445, set for a 0.29% rise in the week.
Sterling fetched $1.3476, on course for a 0.56% gain in the week, its third straight week of gains on fading concerns over Britain’s fiscal outlook.
The Japanese yen was fetching 162.39 per US dollar, rooted near the 40-year low of 162.84 it touched at the start of the month as traders remained wary of official intervention from Tokyo.
That left the dollar index, which measures the US currency against six other units, at 100.72, set for a weekly drop of 0.24%.
The index hit a one-month low earlier this week on easing chances of a near-term rate hike, but safe-haven flows have helped support the greenback.
Oil prices rose by more than 2% on Friday after the U.S. and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure on top of the restricted traffic through the Strait of Hormuz.
Brent crude futures rose by $1.77, or 2.1%, to $86 a barrel by 1158 GMT. US West Texas Intermediate futures were up $1.91, or 2.4%, at $80.86.
Inter-bank market rates for dollar on Friday
BID Rs 277.96
OFFER Rs 278.16
Open-market movement
In the open market, the PKR gained 1 paisa for buying and remained unchanged for selling against USD, closing at 278.86 and 279.68, respectively.
Against Euro, the PKR gained 68 paise for buying and 67 paise for selling, closing at 319.91 and 322.85, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and gained 1 paisa for selling, closing at 76.22 and 76.77, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for both buying and selling, closing at 74.57 and 75.08, respectively.
Open-market rates for dollar on Friday
BID Rs 278.86
OFFER Rs 279.68
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