Rupee’s Performance Against US Dollar Since 04 March 2025
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The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Friday.
At close, the local currency settled at 279.71, a gain of Re0.01 against the greenback.
On Wednesday, the local unit closed at 279.72, according to the State Bank of Pakistan (SBP).
The central bank remained closed on Thursday in observance of the Kashmir Day holiday.
Internationally, the US dollar steadied near a two-week high on Friday, poised for its strongest weekly performance since November as a rout in stocks driven by AI-spending concerns rattled investors, while the yen firmed ahead of a national election on Sunday.
The dollar has strengthened since President Donald Trump nominated Kevin Warsh as the next Federal Reserve Chair last week as markets expect him not to push a lot for rate cuts, easing some worries about central bank independence.
The sharp sell-off in technology stocks this week comes as investors fret about the massive spending on artificial intelligence as well as the cascading impact of fast-advancing AI tools that could upend various sectors.
The risk aversion has helped the dollar despite US Treasury yields sliding after economic data pointed to a weaker-than-expected jobs market ahead of next week’s highly anticipated payrolls report for January.
The dollar index , which measures the US currency against six other units, was at 97.961, hovering near the highest since January 23.
The index is set for a 1% increase for the week, its steepest rise since the middle of November.
Oil prices, a key indicator of currency parity, fell on Friday as investors assessed talks between the United States and Iran that took place in Oman amid fears of another supply-disrupting Middle East conflict.
Brent crude futures fell 55 cents, or 0.8%, to $67.00 a barrel by 1410 GMT, while US West Texas Intermediate crude was down 60 cents, or 1%, at $62.69 a barrel.
Brent was down 5.2% on the week, while WTI had lost 3.7%.
Inter-bank market rates for dollar on Friday
BID Rs 279.71
OFFER Rs 279.91
Open-market movement
In the open market, the PKR gained 2 paise for buying and 1 paisa for selling against USD, closing at 280.23 and 280.75, respectively.
Against Euro, the PKR gained 76 paise for buying and 78 paise for selling, closing at 330.20 and 333.10, respectively.
Against UAE Dirham, the PKR lost 1 paisa for buying and 5 paise for selling, closing at 76.50 and 77.25, respectively.
Against Saudi Riyal, the PKR remained unchanged for buying and lost 4 paise for selling, closing at 74.82 and 75.41, respectively.
Open-market rates for dollar on Friday
BID Rs 280.23
OFFER Rs 280.75
American Dollar Exchange Rate