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Saturday, March 02, 2024  
20 Shaban 1445  

Rupee records marginal gain against dollar in interbank market

Local currency settles at Rs279.4 at market closing
A file photo of a person holding US dollar bills. AFP
A file photo of a person holding US dollar bills. AFP

The rupee recorded a marginal increase against the dollar in the interbank foreign exchange market on Friday.

The local currency appreciated by eight paisas against the greenback which was trading at Rs279.4 at the closing of the market, as against the closing of Rs279.48 the previous day.

In the open market, the buying of the dollar was recorded at Rs280 while it was quoted at Rs281.7 for selling at the time of filing the story.

The dollar fell broadly in the international market on Friday in a bout of positive risk sentiment following upbeat big tech earnings on Wall Street while traders awaited US jobs data due later in the day to gauge how soon the Federal Reserve could begin easing rates.

The closely watched nonfarm payrolls report later on Friday comes on the heels of the Fed’s latest policy meeting where rates were kept steady as expected, though Chair Jerome Powell pushed back against market expectations of rate cuts in March.

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Pakistan Rupee

US dollar interbank

Rupee dollar rate

PKR Dollar

Dollar rate in Pakistan

US dollar vs Rupee

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