RECORDER REPORT
KARACHI: The Pakistani rupee maintained its upward trajectory against the US dollar, appreciating 0.05% during trading in the inter-bank market on Friday.
At close, the currency settled at 282.72, a gain of Re0.15.
On Thursday, the currency settled at 282.87.
Internationally, the US dollar headed for its best week in almost three years against its major peers, maintaining momentum on Friday after US President Donald Trump set new tariff rates on dozens of trade partners.
The yen touched a four-month low against the greenback, extending its steep decline from Thursday after the Bank of Japan signalled it was in no hurry to resume interest rate hikes.
In trade-related moves, the US currency gained ground on the Swiss franc after Trump set a 39% tariff rate on Swiss imports, up from the 31% he previously mooted. Canada’s dollar dipped to a more than two-month trough after the country received a 35% levy instead of an earlier threatened 25%.
The euro remained pinned near an almost two-month low, as it continues to be weighed down by what markets see as a lopsided trade agreement with Washington.
The US dollar index - which measures the currency against a basket of six major peers including the euro, yen, Swiss franc and Canada’s loonie - pushed as high as 100.10 overnight, topping 100 for the first time since May 29.
Oil prices, a key indicator of currency parity, were little changed on Friday and heading for a weekly gain as investors weighed the impact of further import tariffs imposed by U.S. President Donald Trump and threats of sanctions.
Brent crude futures were down 26 cents, or 0.36%, at $71.44 a barrel by 1212 GMT. U.S. West Texas Intermediate crude was down 18 cents, or 0.26%, at $69.08.
Prices stabilised on Friday after losing more than 1% in the previous session, though Brent and WTI remained on course for weekly gains of 4.4% and 6% respectively.
Open-market movement
In the open market, the PKR lost 30 paise for buying and gained 20 paise for selling against USD, closing at 284.62 and 285.30, respectively.
Against Euro, the PKR gained 1.06 rupee for buying and 70 paise for selling, closing at 324.19 and 325.80, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 77.45 and 77.70, respectively.
Against Saudi Riyal, the PKR gained 4 paise for buying and remained unchanged for selling, closing at 75.75 and 76.00, respectively.
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Open Bid Rs 284.62
Open Offer Rs 285.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday
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Open Bid Rs 282.72
Open Offer Rs 282.91
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RUPEE IN LAHORE: The Pak rupee sustained its strength against the US dollar while improving against the British pound.
According to local market sources, the Pakistani rupee closed at Rs 284.80 and Rs 285.30 against the US dollar compared to the previous closing of Rs 285.00 and Rs 285.50, respectively.
However, regarding the British pound, the Pakistani rupee closed at Rs 375.10 and Rs 376.60 against the previous closing of Rs 378.00 and Rs 378.80, respectively.
Copyright Business Recorder, 2025
