After the appreciation, the local currency closed at Rs277.70 against the previous day’s closing of Rs277.85, according to the Forex Association of Pakistan (FAP).

The FAP further reported that the buying and selling rates of the dollar in the open market stood at Rs277.25 and Rs278.75 respectively.

The State Bank of Pakistan (SBP) reported that the price of Euro increased by 29 paisa to close at Rs 301.97 against the last day’s closing of Rs 301.68.

According to FX Street, the US Dollar Index (DXY) is paring some losses on Friday’s European morning trading, with buyers returning after a four-day losing streak. A mild risk aversion ahead of the release of the US Nonfarm Payrolls report has increased support for the safe-haven US Dollar (USD).

The unexpected decline in US jobless claims and the sticky Personal Consumption Expenditures (PCE) Price Index failed to provide significant support to the US Dollar (USD), which hit fresh weekly lows on Thursday.

Stronger-than-expected Consumer Prices Index (CPI) in the Eurozone and some hawkish remarks from the Bank of Japan (BoJ) Governor Kazuo Ueda, lifted the Euro (EUR) and the Japanese Yen (JPY), respectively, and added pressure on the USD, according to the FX report.