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Intraday trade: PKR gains Rs1.2 against USD

Intraday trade: PKR gains Rs1.2 against USD

Web Desk
Jul 25, 2025

KARACHI: The Pakistani rupee (PKR) strengthened against the US dollar (USD) during early trading on Friday, appreciating by 0.42 per cent in the interbank market. By 10:30am, the rupee was being traded at Rs283.03, up nearly Rs1.2 from the previous session.

This followed a modest gain a day earlier, when the PKR rose by 53.90 paisa or 0.19 per cent to close at Rs284.22, according to the State Bank of Pakistan (SBP). It had settled at Rs284.76 versus USD in Wednesday’s session.

On the international front, the USD remained under pressure and hovered near two-week lows, on track for its biggest weekly drop in a month.

Investors are closely watching developments related to US tariff negotiations and looking ahead to major central bank meetings for fresh signals on interest rate policy.

Both the US Federal Reserve and the Bank of Japan are expected to keep interest rates unchanged in their upcoming meetings. However, traders are likely to focus more on policy statements to assess the direction of future moves. The yen gained strength, trading at 147.10 against the dollar, and was on course for a weekly rise of 1 per cent — its best performance since mid-May.

Analysts said expectations of future rate hikes by the Bank of Japan have increased after a recent trade agreement with the US, which lowered tariffs on Japanese car imports to 15 per cent.

Meanwhile, the dollar index, which measures the greenback against six major currencies, slipped to 97.448 and was headed for a 1 per cent drop this week, marking its weakest showing in a month.

Despite Friday’s gains, the PKR has lost 45.43 paisa or 0.16 per cent so far during the current fiscal year, and has declined by Rs5.67 or 1.99 per cent since the beginning of the calendar year.

In the wider foreign exchange market, the rupee also improved against several major currencies. It gained against the UAE dirham, closing at 77.38, and edged higher against the Chinese yuan, ending at 39.73. The local unit also rose against the euro, Swiss franc, Saudi riyal and British pound, while posting a marginal decline against the Japanese yen, closing at 1.9409 compared to 1.9406 a day earlier.