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The Pakistani rupee witnessed an increase against the US dollar, rising by 0.04% during the early trading hours of the inter-bank market on Friday.
At 11:30 am, the currency stood at 280.12, reflecting a gain of 11 paisa against the dollar. On Thursday, the rupee had finished at 280.23.
The US dollar strengthened against major currencies on Friday, following its best single-day performance in three weeks. This gain comes after the Federal Reserve signaled it is not in a rush to reduce interest rates.
The Australian and New Zealand dollars continued to face pressure after sharp declines on Thursday, driven by concerns over the economic impact of President Trump’s aggressive global trade tariffs.
At 0036 GMT, the US dollar index, which tracks the dollar against a basket of six currencies, remained steady at 103.81 after a 0.36% increase on Thursday. Earlier in the week, the index had fallen to a five-month low of 103.19, down from a peak of 110.17 in January, as initial optimism about Trump’s expansive policies gave way to fears that his trade war could push the US into a recession.
