RECORDER REPORT
KARACHI: The Pakistani rupee recorded marginal improvement against the US dollar, appreciating 0.01 percent in the inter-bank market on Friday.
At close, the currency settled at 280.62, a gain of Re0.03 against the greenback.
On Thursday, the local unit closed at 280.65.
Internationally, the US dollar was on track for its best week in over a month on Friday as investors wagered the Federal Reserve is unlikely to cut rates next month, with the case for further easing made no clearer by a confounding US jobs report.
The release of the delayed US non-farm payrolls report on Thursday painted a mixed picture of the country’s labour market, showing employment growth accelerated in September, but the jobless rate rose to 4.4 percent, its highest level in four years.
That reinforced the view that the Fed is likely to hold off on cutting rates at its December meeting, as policymakers continue to sail through an economic fog brought about by the US government shutdown.
Against the dollar, the euro was pinned near a two-week low and last bought USD1.1528, on track for a weekly decline of 0.8 percent.
The dollar index, which measures the greenback against a basket of peers, flirted with a 5-1/2-month peak and last stood at 100.20. It was on track to clock a weekly gain of 0.9 percent, its best performance in over a month.
Oil prices, a key indicator of currency parity, fell on Friday, extending declines for a third session as the United States pushed for a Russia-Ukraine peace deal that could swell global supply while uncertainty over interest rates curbed investors’ risk appetite.
Brent crude futures dropped by $1, or around 1.6 percent, to USD39 a barrel by 1417 GMT. US West Texas Intermediate crude was down around 1.9 percent, or USD1.10, at USD57.90.
Open-market movement
In the open market, the PKR gained 1 paisa for buying and 5 paise for selling against USD, closing at 281.29 and 281.65, respectively.
Against Euro, the PKR lost 46 paise for buying and 32 paise for selling, closing at 324.10 and 326.95, respectively.
Against UAE Dirham, the PKR lost 1 paisa for both buying and selling, closing at 76.62 and 77.39, respectively.
Against Saudi Riyal, the PKR lost 4 paise for buying and remained unchanged for selling, closing at 74.94 and 75.52, respectively.
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Open Bid Rs 281.29
Open Offer Rs 281.65
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday
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Open Bid Rs 280.62
Open Offer Rs 280.82
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RUPEE IN LAHORE: The Pakistani rupee stayed stable against the US dollar while edged lower versus the British pound, in the local currency market here on last business day of the week.
Currency dealers said that there was no visible change in the trading pattern today as, like previous day, the rupee showed positive signs from early session to midday against the greenback. However, in the last session, it turned volatile to finally close flat. Dealers quoted its final buying and selling rates as Rs 281.30 and Rs 281.65 compared with Thursday’s value of Rs 281.30 and Rs 281.70, respectively.
The rupee, however, drifted lower against the British pound on the buying side, closing at Rs 367.00 as compared to Rs 366.00 of the previous day while stayed pegged to Thursday’s level of Rs 370.00.
Copyright Business Recorder, 2025
