Pakistani rupee registers 31st consecutive gain against US dollar

Rupee’s Performance Against US Dollar Since 04 March 2025

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The Pakistani rupee maintained its positive momentum against the US dollar, appreciating marginally in the inter-bank market on Friday.

At close, the rupee settled at 281.46, a gain of Re0.01 against the greenback. This was the rupee’s 31st consecutive gain against the greenback.

On Thursday, the local unit closed at 281.47.

Globally, the US dollar held largely steady in early Asian trading on Friday as investors looked to fresh catalysts after the Federal Reserve’s meeting, with the greenback inching higher against the yen ahead of a policy decision from the Bank of Japan.

The dollar index tacked on 0.1%, recovering slightly from a three-and-a-half-year low on Wednesday after the Fed cut rates by 25 basis points but signalled it was in no hurry to reduce borrowing costs quickly in the coming months.

The US currency remains on course for its third straight weekly loss.

Against the yen, the dollar was last up 0.1% at 148.085 yen after data earlier showed core consumer prices in Japan rose at their slowest pace in nine months.

The inflation report will be one of the factors the Bank of Japan will consider when it decides policy later in the day, with markets widely expecting it to keep interest rates steady at 0.5%.

Oil prices, a key indicator of currency parity, dropped on Friday as worries about large supplies and declining demand outweighed expectations that the year’s first interest-rate cut by the US Federal Reserve would trigger more consumption.

Brent crude futures were down 97 cents, or 1.44%, at $66.47 a barrel by 10:42am CDT (1542 GMT), while US West Texas Intermediate futures lost 72 cents, or 1.13%, to $62.85.

Inter-bank market rates for dollar on Friday

BID                            Rs 281.46

OFFER                      Rs 281.65

Open-market movement

In the open market, the PKR gained 3 paise for buying and remained unchanged for selling against USD, closing at 281.98 and 282.50, respectively.

Against Euro, the PKR gained 1.54 rupee for buying and 1.33 rupee for selling, closing at 331.76 and 335.05, respectively.

Against UAE Dirham, the PKR gained 2 paise for buying and 4 paise for selling, closing at 77.10 and 77.88, respectively.

Against Saudi Riyal, the PKR gained 6 paise for buying and 3 paise for selling, closing at 75.14 and 75.82, respectively.

Open-market rates for dollar on Friday

BID                            Rs 281.98

OFFER                      Rs 282.50