RECORDER REPORT
KARACHI: The Pakistani rupee continued its marginal gain against the US dollar, appreciating 0.01 percent in the inter-bank market on Friday.
The local unit closed the day at 276.82, a gain of Re0.03 against the greenback.
On Thursday, the rupee had rupee settled at 276.85 against the dollar.
Internationally, the Japanese yen hit its strongest level in more than a month on Friday, buoyed by safe-haven flows due to a fresh bout of risk aversion that also sent US Treasury yields sharply lower, pushing the dollar to a nearly three-week trough.
The moves in the currency markets were driven by doubts over the AI spending boom even as Brent crude futures stay above USD110 per barrel, suggesting concerns over economic growth outweighed inflation worries.
The yen strengthened 0.3 percent on Friday to 156.28 per US dollar, leading gains among major currencies. It was set for a 1 percent gain for the week, its strongest weekly rise since early September.
The dollar index, which measures the greenback against a basket of currencies, was at 101.52, after touching its lowest level since the beginning of the month at 101.44 on Thursday.
US 10-year Treasury yields hovered near a one-month low at 4.953 percent, after tumbling on Thursday when equities sold off on renewed concerns about the sustainability of the AI boom, burnishing the safe-haven appeal of sovereign debt.
While demand for safety is intensifying, the beneficiaries differ depending on the risk, OCBC analysts said.
AI jitters favour the yen, Middle East tensions support the Canadian dollar and Norwegian crown due to rising oil prices, while French fiscal stress benefits the Swiss franc, they said, adding that for the US dollar, AI had become an increasingly two-way macro risk.
Oil prices, a key indicator of currency parity, rose on Friday, with Brent crude touching its highest since early May, after Houthi attacks in Saudi Arabia stoked concern over further disruption to energy supplies from the Middle East where UAE authorities also reported an oil spill.
Brent crude futures gained USD1.71, or 1.5 percent, to USD114.99 a barrel by 1300 GMT, having earlier reached USD115.16, the highest level since May 4. US West Texas Intermediate crude gained USD1.80, or 1.8 percent, to USD101.27.
Open-market movement
In the open market, the PKR lost 5 paise for buying and 6 paise for selling against USD, closing at 277.57 and 278.71, respectively.
Against Euro, the PKR gained 68 paise for buying and 57 paise for selling, closing at 310.55 and 313.55, respectively.
Against UAE Dirham, the PKR lost 1 paisa for buying and gained 1 paisa for selling, closing at 75.60 and 76.20, respectively.
Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 73.93 and 74.51, respectively.
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Open Bid Rs 277.57
Open Offer Rs 278.71
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday
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Open Bid Rs 276.82
Open Offer Rs 277.02
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RUPEE IN LAHORE: The Pakistani rupee marginally declined against the US dollar while remaining stable versus the British pound in the local currency market on Friday.
At end of the trading, the rupee’s buying rate against the US dollar finished at Rs 277.50 against Rs 277.00 of Thursday while selling value changed to Rs 279.30 from Rs 279.50.
Against the British pound, the rupee’s final buying and selling rates were quoted as Rs 371.00 and Rs 374.00, respectively compared with Rs 370.00 and Rs 375.00, respectively of Thursday.
Copyright Business Recorder, 2026
