Rupee records gain against US dollar
The Pakistani rupee continued its marginal gain against the US dollar in the inter-bank market on Friday. The local unit closed the day at 276.66, a gain of Re0.01 against the greenback. On Thursday , the rupee had closed at 276.67 against the dollar. Internationally, the US dollar held steady against major currencies on Friday, after a sharp selloff in US equities drove investors toward haven…
The Pakistani rupee experienced a slight increase against the US dollar on Friday, with the local unit closing at 276.66, marking a gain of Re0.01. This follows the previous day's closure at 276.67. Globally, the US dollar remained stable against major currencies on Friday, following a sharp sell-off in US equities that drew investors towards safe haven assets like the yen and drove down Treasury yields.
The Democratic sweep in Congress had a negative impact on US stocks, particularly the Nasdaq, which saw its deepest one-day drop since "Liberation Day" in April 2025. Concerns over stricter regulation of the artificial intelligence industry also contributed to market fluctuations. The rupee's rise was accompanied by a strengthening of the yen by 0.2% to 157.40 against the dollar, while the Swiss franc also strengthened by 0.2%.
The dollar index remained roughly flat at 101.55. The euro, however, was poised for a 0.5% increase for the week, ending a two-week losing streak. The upcoming US non-farm payrolls report on Friday will be closely watched by investors to assess the Federal Reserve's rate path.
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- Rupee records gain against US dollar brecorder.com
