Rupee records gain against US dollar

The Pakistani rupee extended its marginal gains against the US dollar, appreciating 0.01% in the inter-bank market on Friday.

The local unit closed the day at 277.07, a gain of Re0.03 against the greenback.

On Thursday, the Pakistani rupee settled at 277.10 against the dollar.

Internationally, the US dollar headed for its third straight week of gains on Friday, perched at a 17-month high as a bond ​market rout pushed borrowing costs across the globe to multi-decade peaks in the face of inflationary fears over higher oil ‌prices.

Investors were reeling from a steep global bond sell-off on Thursday that sent yields on benchmark US 10-year Treasuries to 5.344%, their highest since 2002, ahead of a US jobs report that could influence the near-term policy outlook.

The 10-year yield was last at 5.249% in early trading on Friday while the rest of the bond market also steadied.

The euro was at $1.1237, hugging its ​lowest level since May 2025, dragged by worries around France’s fiscal health. The yen was steady at 158 per US dollar ​after data showed annual core inflation in Tokyo accelerated in September at the fastest pace in 10 months.

The dollar index, ⁠which measures the US currency against six rivals, was at 102.08, set for a 1% gain this week, its third consecutive weekly gain, ​a run it last had in May 2025.

Data on Wednesday showed US consumer prices rose less than expected in August, along with downward revisions ​to July’s figure, leading traders to rein in wagers of a rate hike from the Federal Reserve later this month.

Two of the Fed’s top policymakers ​this week staked out an unusually clear case for taking in more data before deciding about another hike.

That has sharpened the focus on the US payroll report ‌due ⁠later in the day, with data likely to show that job growth slowed in September and the unemployment rate is forecast to have been 4.1% for a third straight month.

Oil prices, a key indicator of currency parity, fell more than $3 and European gasoil ​futures dropped over 4% on Friday after reports of talks in Europe on additional diesel and crude stock ‌releases, easing concerns over tight global energy supplies.

Brent was down $3.06, or 3%, at $99.25 a barrel at 1409 GMT. West Texas Intermediate dropped $3.95, or 4.25%, to $88.92 a barrel.

Inter-bank market rates for dollar on Friday

BID Rs 277.07

OFFER Rs 277.27

Open-market movement

In the open market, the PKR gained 10 paise for buying and 8 paise for selling against USD, closing at 277.87 and 279.01, respectively.

Against Euro, the PKR gained 1.46 rupee for buying and 1.57 rupee for selling, closing at 312.27 and 315.58, respectively.

Against UAE Dirham, the PKR gained 16 paise for buying and 1 paisa for selling, closing at 75.51 and 76.26, respectively.

Against Saudi Riyal, the PKR gained 2 paise for both buying and selling, closing at 73.96 and 74.47, respectively.

Open-market rates for dollar on Friday

BID Rs 277.87

OFFER Rs 279.01