The Pakistani rupee extended its marginal gains against the US dollar on Friday.
The local unit closed the day at 277.80, a gain of Re0.01 against the greenback.
On Thursday, the Pakistani rupee settled at 277.81 against the dollar.
Globally, the US dollar rose as much as 0.8% to 160.690 against the Japanese yen in early trades on Friday, after diving 2.4% in its biggest single-day drop since January 2023 in the previous session.
Japan conducted yen-buying, dollar-selling market intervention in the New York session overnight, a market source told Reuters, pulling the sagging currency from four-decade lows.
In a rare coordinated move, South Korea also conducted dollar-selling intervention on Thursday, a market source told Reuters.
The won rose to a nine-month high before giving back some of its gains, with the Asian currency last at 1,434.26 per U.S. dollar in early trading, down more than 0.7%.
All eyes are now on the BOJ, which is widely expected to keep short-term interest rates steady at 1%, having just hiked in June, while delivering a hawkish signal as price pressures mount.
The BOJ meeting follows the U.S. Federal Reserve’s decision to leave interest rates unchanged, which bruised the dollar as traders questioned whether the Fed’s new chief was serious about containing inflation.
That has left the dollar on the defensive. The U.S. dollar index , which tracks the currency against six major peers, was a touch higher at 100.12 after plunging 0.8% in the previous session. It was heading for a 1.3% drop for the week and a 1% loss for the month.
Furthermore, oil prices fell on Friday but kept on track for a monthly rise of about a fifth.
Brent futures fell $1.03, or 1.2%, to $88 a barrel by 0215 GMT, while US West Texas Intermediate (WTI) crude slipped $1.50, or 1.8%, to $82.09 a barrel. On a monthly basis, both benchmarks were set to rise about 20%.
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