Intraday trade: PKR gains 21 paisa against USD

KARACHI: The Pakistani rupee (PKR) saw a slight improvement against the US dollar (USD), appreciating by 0.08 per cent during early trading on Friday.

As of 10:15 AM, the rupee was trading at Rs278.43, up by 21 paisa from the previous day’s closing, marking a minor gain on the last trading day of the week.

For context, during the current fiscal year, the PKR has depreciated by 30.11 paisa or 0.11 per cent against the USD.

Since the beginning of 2025, it has fallen by 9.23 paisa or 0.03 per cent, which reflects its performance over the first two trading sessions of the calendar year.

International market performance

Globally, the US dollar was set to record its best weekly performance in over a month as of Friday, buoyed by expectations of fewer interest rate cuts by the Federal Reserve this year. There is also a prevailing belief that the US economy will continue to outperform other major economies.

The greenback began the year strongly, hitting a two-year high of 109.54 against a basket of currencies on Thursday, continuing its strong rally from the previous year.

Previous closing

According to the State Bank of Pakistan (SBP), the PKR depreciated by 9.23 paisa or 0.03 per cent against the USD during Thursday’s interbank session, closing at Rs278.64 per USD, compared to the previous day’s close of Rs278.55.

PKR’s performance against other currencies

The PKR appreciated by Rs1.20 or 0.41 per cent against the Euro, closing at Rs288.88 compared to the previous rate of Rs290.08.

The rupee weakened by 6.01 paisa or 0.08 per cent against the Saudi Riyal, closing at Rs74.20.

It depreciated by 2.61 paisa or 0.03 per cent against the UAE Dirham, ending the session at Rs75.86.

The PKR gained 42.65 paisa or 0.14 per cent against the Swiss Franc, closing at Rs308.01.

Against the British Pound, the rupee appreciated by 81.75 paisa or 0.23 per cent, closing at Rs348.89 compared to Rs349.71 a day earlier.

The PKR lost 1.16 paisa or 0.03 per cent against the Chinese Yuan, closing at Rs38.17, slightly down from Rs38.16 the previous day.

Against the Japanese Yen, the rupee strengthened by 0.63 paisa or 0.35 per cent, closing at Rs1.7771 compared to Rs1.7834 the day before.

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