Rupee gains ground against US dollar

Rupee’s Performance Against US Dollar Since 04 March 2025

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The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Friday.

At close, the local currency settled at 279.10, a gain of Re0.01, against the greenback.

On Thursday, the local unit closed at 279.11.

Internationally, China’s yuan firmed against the US dollar on Friday as the greenback steadied and the focus turned to the release of US payrolls data later in the day.

The US dollar had jumped on safe-haven demand a day earlier when US President Donald Trump indicated the Iran conflict would drag on.

The spot yuan opened at 6.8930 per dollar on Friday and was last trading 37 pips firmer than the previous late-session close.

Before the market opening, the People’s Bank of China set the midpoint rate at 6.8929 per USD. The spot yuan is allowed to trade 2% either side of the fixed midpoint each day.

The dollar stabilised on Friday after rising on Thursday as Trump’s threat to bomb Iran “back to the Stone Age” heightened risks in a war now in its fifth week, dimming hopes for a swift resolution to a conflict squeezing oil supplies and stoking inflation.

The dollar index, which measures the greenback against a basket of six currencies, was 0.058% higher at 100.04.

The global oil market was closed in observance of Good Friday.