RECORDER REPORT
KARACHI: The Pakistani rupee extended its marginal gains against the US dollar in the inter-bank market on Friday.
The local unit closed the day at 277.00, a gain of Re0.01 against the greenback.
On Thursday, the Pakistani rupee settled at 277.01 against the dollar.
The inflow of overseas workers’ remittances into Pakistan stood at USD3.6 billion in September 2026, the State Bank of Pakistan (SBP) data showed.
Remittances showed 12.7percent increase on year-on-year basis from USD3.2 billion recorded in September 2025. Meanwhile, it recorded a 1.9percent decrease on month-on-month basis from USD3.7 billion in August 2026.
Internationally, the euro was headed for a fifth straight weekly drop on Friday, though there were signs the selling streak was losing momentum as France’s tumbling debt market stabilised and a decline in US yields took some steam out of the dollar’s rally.
The common currency had hit a 17-month low of USD1.1161 on Monday on market worries about France’s record high debt load and the difficult political path to budget cuts, in contrast with a robust-looking US dollar and US economy.
It has since recovered to trade at USD1.1211, for a fall this week of 0.3percent and a five-week drop of more than 3percent on the US dollar.
The euro/sterling cross is also down 0.3percent on the week to trade near a 16-month low at 84.74 pence. The euro/Swiss cross has steadied around 0.9324 francs per euro after notching last week its biggest weekly fall in 17 months.
France’s far-right presidential candidate Marine Le Pen presented plans this week to cut the budget deficit, which markets took as reassuring given hard-left rival Jean-Luc Melenchon has asked the central bank to cancel government debts.
Elsewhere, the US dollar’s moves were small and gains slowed as US yields headed for their biggest weekly drop in about three months, with the market rallying strongly overnight.
Oil prices, a key indicator of currency parity, fell on Friday as Middle East supply concerns eased after President Donald Trump said the US would not attack Iran before midterm elections next month and talked of “productive” talks to end their war that has disrupted global energy markets.
Brent crude futures dropped USD1.10, or 1.1percent, to USD103.18 a barrel by 1328 GMT. US West Texas Intermediate (WTI) crude futures fell 49 cents or 0.5percent to USD91.00.
Open-market movement
In the open market, the PKR gained 8 paise for buying and 12 paise for selling against USD, closing at 277.52 and 278.69, respectively.
Against Euro, the PKR lost 60 paise for buying and 40 paise for selling, closing at 310.68 and 313.68, respectively.
Against UAE Dirham, the PKR remained unchanged for buying and gained 1 paisa for selling, closing at 75.57 and 76.16, respectively.
Against Saudi Riyal, the PKR lost 1 paisa for buying and remained unchanged for selling, closing at 73.89 and 74.41, respectively.
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Open Bid Rs 277.52
Open Offer Rs 278.69
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday
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Open Bid Rs 277.00
Open Offer Rs 277.20
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RUPEE IN LAHORE: The Pakistani rupee remained stable against the US dollar and showed mixed movement against the British pound in the local currency market on Friday, the last business day of the week.
Currency dealers said the rupee maintained its firm trend against the US dollar for the third consecutive day. The local currency showed positive movement shortly after the market opened, with the trend continuing during intraday trading. However, trading activity slowed in the final session, while the rupee managed to close unchanged, dealers said.
At the close of trading, the rupee’s buying and selling rates against the US dollar stood at Rs277.00 and Rs279.50, respectively, unchanged from Thursday.
Against the British pound, the rupee’s buying rate changed to Rs366.00 from Rs365.00, while the selling rate remained unchanged at Rs370.00.
Copyright Business Recorder, 2026
