Pakistan's currency posts another slight advance against the U.S. dollar in inter-bank trading on Friday, reflecting a largely stable domestic exchange-rate trend. The rupee settles at 276.66 per dollar, improving by Re0.01 from Thursday's close of 276.67.
Highlights
- Pakistani rupee closes at 276.66 against the U.S. dollar in inter-bank trade on Friday, extending its marginal gain from Thursday's 276.67.
- Nasdaq posts its steepest one-day decline since April 2025 as global risk sentiment sours on Democratic sweep in Congress and AI sector scrutiny.
- Brent crude rises $1.29 to $99.58 a barrel and U.S. West Texas Intermediate adds 86 cents to $91.38, but both head for a sharp weekly loss.
Friday trading and currency backdrop
As reported by Pakistan Business Recorder, the local unit continues its marginal rise against the U.S. dollar in the inter-bank market, ending Friday at 276.66. The move follows Thursday's close of 276.67, indicating another session of limited but positive movement for the rupee.In global markets, the U.S. dollar holds steady against major currencies as investors shift toward haven assets ahead of a closely watched U.S. government payrolls report. The broader tone remains cautious after a sharp selloff in U.S. equities pushes down Treasury yields and lifts demand for currencies such as the yen and the Swiss franc.
Global risk sentiment and oil market influence
The retreat from risk follows a Democratic sweep in Congress that weighs heavily on U.S. stocks, with the Nasdaq posting its deepest one-day fall since April 2025. Concerns about tighter scrutiny of the artificial intelligence industry, particularly around data centre construction, continue to unsettle global markets this week.The dollar index stays roughly flat at 101.55, while the euro trades at $1.1222 and remains on track for a weekly gain. Investors are also watching U.S. labour data after weekly initial jobless claims fall by 6,000 to a seasonally adjusted 189,000, a reading that may shape expectations for the Federal Reserve's rate path.
Oil prices, an important external indicator for Pakistan's currency outlook, are set for a sharp weekly decline despite a rebound on Friday. Brent crude rises $1.29 to $99.58 a barrel and U.S. West Texas Intermediate adds 86 cents to $91.38, while continued Middle East supply concerns keep a floor under the market.
Our earlier article on Pakistan’s October 15 fuel price revision detailed how the government raised petrol while slightly cutting high-speed diesel under its regular pricing mechanism. It noted that the adjustments were attributed to global oil-market inputs and came as crude prices firmed amid heightened Middle East-related supply concerns.
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