After appreciation, the local currency closed at Rs278.53 against the previous day’s closing of Rs278.64.

The buying and selling rates of the dollar in the open market stood at Rs 278.65 and Rs 279.75 respectively, according to the Forex Association of Pakistan (FAP).

The price of Euro decreased by 79 paisa to close at Rs 308.80 against the last day’s closing of Rs 309.59, according to the State Bank of Pakistan (SBP).

The Japanese yen remained unchanged and closed at Rs1.92, whereas a decrease of 73 paisa was witnessed in the exchange rate of the British Pound, which traded at Rs367.34 as compared to the last day’s closing of Rs368.07.

The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 03 paisa each to close at Rs75.83 and Rs74.22 respectively.

In the international market, the USD benefited from upbeat macroeconomic data releases on Thursday and gathered strength against its major rivals. The US Bureau of Economic Analysis announced that it revised the annualized Gross Domestic Product (GDP) growth for the second quarter higher to 3% from 2.8% in the previous estimate.

In addition, the US Department of Labor reported that the weekly Initial Jobless Claims edged slightly lower to 231,000 in the week ending August 24 from 233,000, FX Street reported.

Early Friday, US stock index futures trade marginally higher and the benchmark 10-year US Treasury bond yield fluctuates at around 3.85%.