RECORDER REPORT
The Pakistani rupee extended its marginal gains against the US dollar in the interbank market on Friday.
The local unit closed the day at 277.16, a gain of Re0.01 against the greenback.
On Thursday, the Pakistani rupee settled at 277.17 against the dollar.
Internationally, the US dollar was set for its first back-to-back weekly gains in more than three months on Friday, as surging Treasury yields and mounting bets on further Federal Reserve rate hikes kept the greenback near multi-month peaks.
Dollar strength pushed the euro to a two-month low of USD1.1370 and put it on track for a third weekly decline, its worst losing streak since the end of 2025. Sterling languished near a three-month low of USD1.3220 and was on track for its worst weekly performance in four months.
Markets have aggressively repriced the interest rate trajectory after the Fed tightened policy last week, while robust economic data and fresh energy supply concerns have further strengthened that conviction. A bond selloff, which ?sent long-dated US Treasury yields to their highest in more than 20 years, also gave the greenback a leg up.
The dollar index, which measures the US currency against a basket of peers, has climbed more than 1percent this week to a two-month high, marking its first back-to-back weekly gains since June. However, the rally was losing some momentum, last edging a touch lower at 101.2.
Oil prices, a key indicator of currency parity, fell more than 1percent on Friday as markets weighed the possibility of a truce between the US and Iran against concerns that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supply from the key Middle Eastern producer.
Brent was down USD1.34, or 1.3percent, at USD105.26 a barrel at 1215 GMT, while West Texas Intermediate (WTI) was USD1.83, or 1.9percent, lower at USD92.78 a barrel.
For the week so far, Brent has gained 1.5percent and WTI has dropped 7.4percent.
Open-market movement
In the open market, the PKR remained unchanged for both buying and selling against USD, closing at 278.12 and 279.20, respectively.
Against Euro, the PKR remained unchanged for buying and gained 23.00 paisa for selling, closing at 316.43 and 319.49, respectively.
Against UAE Dirham, the PKR lost 2.00 paisa for buying and 1.00 paisa for selling, closing at 75.72 and 76.29, respectively.
Against Saudi Riyal, the PKR lost 1.00 paisa for both buying and selling, closing at 74.02 and 74.52, respectively.
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Open Bid Rs 278.12
Open Offer Rs 279.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday
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Open Bid Rs 277.16
Open Offer Rs 277.36
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RUPEE IN LAHORE: The Pakistani rupee depicted firmness against the US dollar and the British pound in the local currency market on last business day of the week.
Currency dealers said the rupee took a weak start at open against the US dollar, and later turned volatile in early and intraday trading. In subsequent hours, the local currency mostly remained directionless due to lack of any positive news, dealers stated. However, they added, interest returned during the last minutes which helped the market close with a stable note.
At the close of trading, the rupee’s buying rate against the US unit stood pegged to its preceding day’s level at Rs 278.50 while selling value fractionally changed to Rs 280.25 from Rs 280.50.
Against the British unit, the rupee’s buying rate closed at Rs 366.00 against Rs 365.00 of the previous day while selling value remained unchanged at Rs 374.00.
Copyright Business Recorder, 2026
