Rupee Strengthens Against US Dollar in Early Trading

The Pakistani rupee continued its positive trend against the US dollar, gaining 0.13% in the inter-bank market during the initial hours of trading on Friday.

At 11:00 am, the rupee’s value stood at 282.50, reflecting an increase of Re0.37. The previous day, Thursday, the rupee had closed at 282.87.

Global Currency Market Overview

On the international stage, the US dollar was on track for its strongest week in nearly three years against major currencies, sustaining its momentum following recent tariff announcements.

The Japanese yen declined to a four-month low versus the dollar, extending losses after the Bank of Japan indicated no immediate plans to raise interest rates.

In trade-related developments, the US dollar appreciated against the Swiss franc after new tariffs were imposed on Swiss imports. The Canadian dollar also experienced a dip to a two-month low after the imposition of levies.

The euro remained near a two-month low, influenced by market perceptions of an unbalanced trade dynamic with the United States.

The US dollar index, which compares the dollar to six major currencies, reached as high as 100.10, surpassing 100 for the first time since May 29.

Oil Prices Remain Stable

Oil prices showed minimal movement on Friday, following a decline of over 1% in the prior session as traders assessed the potential impact of the latest US tariffs, which could dampen economic activity and global fuel demand growth.

Brent crude futures edged up 4 cents, or 0.06%, to $71.74 a barrel. US West Texas Intermediate crude increased by 1 cent, or 0.01%, to $69.27.

This is an intra-day update.