The rupee appreciated by 23 paise against the dollar in the interbank trading on Friday and closed at Rs277.51 against the previous day’s closing of Rs277.74.

According to the Forex Association of Pakistan, the buying and selling rates of the dollar in the open market stood at Rs278.50 and Rs280 respectively.

The Euro price decreased by 82 paise to close at Rs305.94 against the last day’s closing of Rs306.76, according to the State Bank of Pakistan.

The Japanese yen remained unchanged and closed at Rs1.89, whereas an increase of 96 paise was seen in the exchange rate of the British Pound which traded at Rs365.39 as compared to the last day’s closing of Rs364.43.

The exchange rates of the Emirates Dirham and Saudi Riyal decreased by six paisa 12 paise to close at Rs75.55 and Rs73.87.

On Thursday, the rupee closed at 277.74 according to the State Bank of Pakistan (SBP).

Internationally, the US dollar remained near a six-week high on Friday, poised for its largest weekly gain since April due to increased safe-haven demand amid rising tensions in the Middle East.

Market activity is anticipated to be quiet as investors await US non-farm payroll data, which will influence the Federal Reserve’s interest rate outlook.

Recent data indicated a slight rise in the number of Americans filing new unemployment benefit applications last week, with the US labor market stabilizing at the conclusion of Q3.

The dollar index, which compares the US dollar to six other currencies, stood at 101.92, close to its six-week high of 102.09 reached on Thursday. For the week, the index has increased by 1.5%.

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Oil climbs after Israel strikes Gaza, truce talks continue

Rupee strengthens against US Dollar in intra-day trading

Oil climbs as dollar slips, but demand fears keep a lid on gains

Oil prices showed little change on Friday but were on track for substantial weekly gains. Investors are weighing the potential impact of a broader Middle East conflict on crude oil supplies against a well-supplied global market.

Brent crude futures dropped 8 cents, or 0.1%, to $77.54 a barrel as of 0415 GMT, while US West Texas Intermediate crude futures fell 6 cents, or 0.08%, to $73.65 a barrel. Both benchmarks are expected to achieve weekly gains of approximately 8%.