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The Pakistani rupee (PKR) saw further improvement against the US dollar (USD) on Friday, gaining 0.11 percent or 31 paisa in the early hours of trading in the interbank market.
By the morning, the rupee was trading at Rs277.65, marking an increase of Re0.31 compared to the previous close.
Globally, the US dollar remained near its 13-month high as investors evaluated the Federal Reserve’s interest rate outlook. Uncertainty in Europe kept the euro under pressure, while bitcoin hovered close to the $100,000 mark.
For the current fiscal year, the PKR has gained 38.22 paisa or 0.14 percent against the US dollar. On a calendar-year basis, the currency has appreciated by 3.90 rupees or 1.40 percent.
In Thursday’s interbank session, the PKR appreciated by 8.33 paisa or 0.03 percent, closing at Rs277.96 against the USD, compared to Rs278.04 the previous day.
In terms of other major currencies, the PKR gained 1.06 rupees or 0.36 percent against the euro, closing at Rs292.90 from Rs293.96. It also strengthened against the British pound, rising by 1.51 rupees or 0.43 percent to end the session at Rs351.41, compared to Rs352.92 a day earlier.
However, the rupee weakened against some currencies. It fell by 42.19 paisa or 0.13 percent against the Swiss franc, closing at Rs314.75. Against the Japanese yen, the PKR dropped by 1.01 paisa or 0.57 percent to close at Rs1.7959.
Additionally, the rupee showed a slight depreciation of 0.20 paisa or 0.01 percent against the Chinese yuan, closing at Rs38.40.
On a positive note, it gained 1.92 paisa or 0.03 percent against the Saudi riyal to settle at Rs74.04, and it rose by 2.27 paisa or 0.03 percent against the UAE dirham, closing at Rs75.68.
