Pakistani rupee continues to strengthen against US dollar – SUCH TV

The Pakistani rupee extended its gains against the US dollar on Friday, rising by 17 paisas during early trading in the inter-bank market.

The dollar was trading at Rs282.70, down from the previous close of Rs282.87.

Globally, the US dollar was on track for its strongest week in nearly three years against major currencies, buoyed by fresh tariff announcements from President Donald Trump targeting multiple trade partners.

Meanwhile, the Japanese yen slipped to a four-month low against the dollar, continuing its sharp decline after the Bank of Japan indicated no immediate plans to raise interest rates.

The trade-related moves, the US currency gained ground on the Swiss franc after Trump set a 39% tariff rate on Swiss imports, up from the 31% he previously mooted.

Canada’s dollar dipped to a more than two-month trough after the country received a 35% levy instead of an earlier threatened 25%.

The euro remained pinned near an almost two-month low, as it continues to be weighed down by what markets see as a lopsided trade agreement with Washington.