Intraday trade: PKR gains 25 paisa against USD

KARACHI: The Pakistani rupee (PKR) showed a slight improvement against the US dollar (USD), appreciating by 0.09 per cent in the interbank market during early trading hours on Friday.

Before 10:30 AM, the currency was trading at Rs278.90, gaining 25 paisa against the greenback.

During the current fiscal year, the PKR has depreciated by 80.44 paisa, or 0.29 per cent, against the USD. Since the start of the calendar year 2025, it has weakened by 59.56 paisa, or 0.21 per cent.

On the international front, the Japanese yen climbed to a nine-week high as market participants bet on further interest rate hikes in Japan this year, while the US dollar and other major currencies remained steady ahead of the release of US monthly payroll data expected later in the day.

After a turbulent week, highlighted by US tariff threats, traders awaited the US jobs data, while keeping a close watch on geopolitical developments and President Donald Trump’s broader policy actions.

The US labour market has remained resilient, with economists polled by Reuters expecting the unemployment rate to hold steady at 4.1 per cent in January and the economy to have added 170,000 jobs. However, analysts caution that the employment data for January may be challenging to interpret.

The US dollar index, which measures the greenback against the yen, sterling, and other major peers, was flat at 107.69, after rising to 109.88 earlier in the week due to tariff concerns.

Oil prices, a key factor influencing currency parity, rose slightly during early Asian trade on Friday, but were heading for a third consecutive weekly decline.

The fall was attributed to renewed trade war threats by US President Donald Trump, particularly targeting China.

Brent crude futures increased by 15 cents to $74.44 a barrel at 0150 GMT but were set for a 3.2 per cent weekly decline, the steepest since September 2024. US West Texas Intermediate crude rose 9 cents to $71.70 a barrel but was down 2.7 per cent for the week.

Previous closing and performance against other currencies

On Thursday, the PKR depreciated by 18.95 paisa, or 0.07 per cent, against the USD, closing at Rs279.15, compared to Rs278.96 in the previous session.

In the open market, exchange companies quoted the dollar at Rs279.00 for buying and Rs281.10 for selling.

In terms of other major currencies, the PKR depreciated by 5.25 paisa, or 0.07 per cent, against the Saudi Riyal, closing at Rs74.42. The local currency also weakened by 5.16 paisa, or 0.07 per cent, against the UAE Dirham, closing at Rs76.00.

Against the Japanese Yen, the PKR depreciated by 3.21 paisa, or 1.79 per cent, closing at Rs1.8297, compared to Rs1.7976 the previous day.

The PKR also weakened by Rs1.73, or 0.60 per cent, against the Euro, closing at Rs289.75, compared to Rs288.02.

Against the Swiss Franc, the PKR fell by Rs2.53, or 0.83 per cent, to close at Rs308.96.

However, the PKR appreciated by 15.85 paisa, or 0.41 per cent, against the Chinese Yuan, closing at Rs38.31, up from Rs38.47.

The local currency depreciated by Rs1.87, or 0.54 per cent, against the British Pound, closing at Rs348.18, compared to Rs346.31 in the previous session.