Rupee’s Performance Against US Dollar Since 04 March 2025
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The Pakistani rupee recorded a marginal gain against the US dollar, appreciating 0.01% in the inter-bank market on Friday.
At close, the local currency settled at 280.42, a gain of Re0.03 against the greenback.
On Thursday, the local unit closed at 280.45.
Internationally, the US dollar languished not far from a five-week low against its major peers on Friday as investors braced for a Federal Reserve rate cut next week.
Markets widely expect a quarter-point reduction when the policy-setting Federal Open Market Committee meets on December 9-10, and a focus will be on any signals about how much additional easing lies ahead.
The dollar index, which measures the currency against six rivals, was flat at 99.065 in Asia early.
A small gain overnight snapped a nine-day losing streak, but the index had dipped to a five-week low of 98.765 earlier that session, and it remains on course for a 0.4% decline this week.
Traders are pricing around 86% odds of a Fed cut next Wednesday, and potentially 2-3 more reductions next year, LSEG data showed.
Fed officials have been carefully watching the labour market to determine whether the economy needs further support.
Oil prices, a key indicator of currency parity, were poised for a weekly gain on Friday, supported by an expected Federal Reserve interest rate cut, escalating US-Venezuela tensions and stalled peace talks in Moscow, though both oil benchmarks dipped from the previous day.
Brent crude fell 14 cents, or 0.2%, to $63.12 per barrel by 0400 GMT.
The contract was largely stable on the week. US West Texas Intermediate (WTI) dipped 18 cents, or 0.3%, to $59.49 a barrel, although logging a weekly gain of about 1.6% and marking a second straight week of increase.
American Dollar Exchange Rate