The Pakistani rupee recorded marginal improvement against the US dollar, appreciating 0.07% in the inter-bank market during the opening hours of trading on Friday.
At 10:20am, the currency was hovering at 279.07 for a gain of Re0.19 against the greenback.
The rupee had closed at 279.26 on Thursday.
Internationally, the US dollar and major currencies steadied on Friday, as traders assessed the potential impact of Washington’s reciprocal tariffs which will not be immediately implemented, while a US producer price report eased inflation concerns.
US President Donald Trump directed his economic team on Thursday to formulate plans for reciprocal tariffs on every country that imposes taxes on US imports.
Although the tariffs would not be implemented immediately, they could be enforced within weeks as Trump’s trade and economic team studies bilateral tariff and trade relationships, a White House official said.
The delayed implementation buoyed expectations that there may yet be room for countries to negotiate.
Futures traders have about 33 basis points of cuts priced in for this year. That is up from 29 basis points before Thursday’s data, but down from 37 basis points before the CPI data was released on Wednesday.
The US dollar index, which measures the greenback against a handful of peers, was nearly flat at 107.07.
US Treasury yields declined as investors took comfort in the PPI numbers, helping the yen to claw back most of its losses after weakening to 154.80 on Wednesday.
Oil prices, a key indicator of currency parity, rose in early trade on Friday, set to snap a three-week losing streak, amid rising fuel demand and expectations that Trump’s plans for reciprocal global tariffs would not come into effect until April, giving more time to avoid a trade war.
Brent futures were up 19 cents at $75.25 a barrel by 0300 GMT, while US West Texas Intermediate (WTI) crude rose 12 cents to $71.41.
For the week, Brent was up 0.7% and WTI 0.5%.
This is an intra-day update
The Pakistani rupee recorded marginal improvement against the US dollar, appreciating 0.07% in the inter-bank market during the opening hours of trading on Friday.
At 10:20am, the currency was hovering at 279.07 for a gain of Re0.19 against the greenback.
The rupee had closed at 279.26 on Thursday.
Internationally, the US dollar and major currencies steadied on Friday, as traders assessed the potential impact of Washington’s reciprocal tariffs which will not be immediately implemented, while a US producer price report eased inflation concerns.
US President Donald Trump directed his economic team on Thursday to formulate plans for reciprocal tariffs on every country that imposes taxes on US imports.
Although the tariffs would not be implemented immediately, they could be enforced within weeks as Trump’s trade and economic team studies bilateral tariff and trade relationships, a White House official said.
The delayed implementation buoyed expectations that there may yet be room for countries to negotiate.
Futures traders have about 33 basis points of cuts priced in for this year. That is up from 29 basis points before Thursday’s data, but down from 37 basis points before the CPI data was released on Wednesday.
The US dollar index, which measures the greenback against a handful of peers, was nearly flat at 107.07.
US Treasury yields declined as investors took comfort in the PPI numbers, helping the yen to claw back most of its losses after weakening to 154.80 on Wednesday.
Oil prices, a key indicator of currency parity, rose in early trade on Friday, set to snap a three-week losing streak, amid rising fuel demand and expectations that Trump’s plans for reciprocal global tariffs would not come into effect until April, giving more time to avoid a trade war.
Brent futures were up 19 cents at $75.25 a barrel by 0300 GMT, while US West Texas Intermediate (WTI) crude rose 12 cents to $71.41.
For the week, Brent was up 0.7% and WTI 0.5%.
This is an intra-day update
American Dollar Exchange Rate