The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.04% during the opening hours of trading in the inter-bank market on Friday.
At 11am, the currency was hovering at 277.85, a gain of Re0.11 against the greenback.
On Thursday, the rupee had settled at 277.94, according to the State Bank of Pakistan (SBP).
Internationally, major currencies remained jittery on Friday as markets considered the impact of a politically turbulent week that saw the collapse of France’s government and the brief imposition of martial law in South Korea.
The US dollar spiked against South Korea’s won after local media reported that South Korea’s main opposition Democratic Party said lawmakers were on standby after receiving reports of another martial law declaration.
In cryptocurrencies, bitcoin took a breather after catapulting above $100,000 for the first time a day earlier, and even sceptics now expect a crypto-friendly Trump administration to feed an extended rally.
On the broader economic front, the spotlight will be on the US non-farm payrolls report for November due later in the day as investors look to second guess the pace of future Federal Reserve rate cuts.
Markets currently see about a 72% chance that the Federal Reserve will deliver a 25-basis-point rate cut when it meets on Dec. 17-18, up from 66.5% a week ago, CME FedWatch tool showed.
Oil prices, a key indicator of currency parity, edged lower on Friday, with weak demand in focus after the OPEC+ group postponed planned supply increases and extended deep output cuts to the end of 2026.
Brent crude futures fell 6 cents, or 0.1%, to $72.03 per barrel by 0336 GMT.
US West Texas Intermediate crude futures lost 1 cent to $68.29 per barrel.
For the week, Brent was on track to drop more than 1%, while WTI hung on to a marginal 0.1% gain.
This is an intra-day update
American Dollar Exchange Rate