Foreign exchange rates today: PKR gains against USD

The Pakistani rupee (PKR) showed modest gains against the US dollar (USD) on Friday, trading at 280.33 in the inter-bank market during the morning session. This marked a 0.08 percent appreciation, or a 22 paisa increase, compared with Thursday’s closing rate of 280.55.

Market analysts attributed the local currency’s strength to a combination of domestic stability and a softer dollar in global markets. The US dollar index, which tracks the greenback against six major currencies, was slightly up at 99.624 on Friday, but still on track for its worst weekly performance since late July.

Traders are increasingly anticipating that the Federal Reserve could ease monetary policy next month, while activity was subdued due to the US Thanksgiving holiday, limiting liquidity in global markets.

NBP releases foreign exchange rates for today

The National Bank of Pakistan (NBP) published its foreign exchange rates for the day, offering a snapshot of the currency market and guidance for traders. According to NBP’s treasury management division, the US dollar was available at 280.45 for buying and 280.95 for selling.

Other key currencies included the euro at 324.96 for buying and 325.54 for selling, the British pound at 371.32 for buying and 371.98 for selling, and the Japanese yen at 1.7949 for buying and 1.7981 for selling. Regional and global currencies such as the UAE dirham, Saudi riyal, and Chinese yuan also saw minor fluctuations in line with global trends.

The NBP emphasises that these rates serve as a benchmark for daily trading and help maintain transparency in the foreign exchange market.

Despite the small uptick, currency experts caution that volatility may continue in the coming days, reflecting both global market sentiment and domestic economic developments.