The Pakistani rupee (PKR) appreciated by 17 paisa against the dollar in the interbank market during early trading hours on Friday.
At 11:00 am the rupee was being traded at Rs280.45 to the dollar, up from Thursday’s closing rate of Rs280.62. This marked a modest gain of 0.06 per cent.
Despite the intraday improvement, the rupee has declined by Rs2.28, or 0.81 per cent, against the dollar since the beginning of the current fiscal year. On a calendar year basis, the currency has lost Rs2.07, or 0.74 per cent.
On Thursday, the rupee had closed 15.74 paisa lower against the dollar at Rs280.62. During the day, it fluctuated between a bid high of Rs280.60 and an ask low of Rs280.55 in interbank trade.
In the open market, the dollar was quoted at Rs280.00 for buying and Rs282.25 for selling.
Globally, the US dollar regained some ground on Thursday after a recent spell of weakness. It held steady against major currencies, particularly the euro, which slipped slightly following another interest rate cut by the European Central Bank—its seventh in a year. Investors are now closely watching developments in US trade policy, with talks underway between Washington and its global trade partners.
