Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted a marginal decline for the fifth straight session against the US dollar, depreciating 0.02% in the inter-bank market on Thursday.
At close, the local currency settled at 281.52, a loss of Re0.05 against the greenback.
On Wednesday, the rupee closed the day at 281.47.
Internationally, the US dollar held steady against the euro on Thursday following its biggest rise in two weeks a day earlier, when the Federal Reserve warned of rising risks to the economy from higher inflation and unemployment.
The US dollar was also supported by the prospect of a de-escalation in trade tensions between Washington and Beijing, with investors closely watching for developments ahead of a planned meeting in Switzerland on Saturday.
On Wednesday, the Federal Open Market Committee (FOMC) left interest rates unchanged, as widely expected, but Fed Chair Jerome Powell said it is not clear if the economy will continue its steady pace of growth or wilt under mounting trade uncertainty and a possible spike in inflation.
Markets currently price three quarter-point rate cuts by year-end, with the next coming in July or September.
The US dollar traded little changed at $1.1313 per euro early on Thursday in Asia, after climbing 0.56% on Wednesday to snap a three-day losing run.
The US dollar index, which measures the greenback against those three currencies and three more major peers, was stable at 99.842 after rising 0.26% on Wednesday.
Oil prices, a key indicator of currency parity, held steady on Thursday, supported by hopes of a breakthrough in looming trade talks between the US and China, the world’s two largest oil consumers.
Brent crude futures were up 43 cents, or 0.7%, at $61.55 a barrel, while US West Texas Intermediate crude rose 49 cents, or 0.8% to $58.56 a barrel at 0803 GMT.
The market has almost stabilised at slightly above $61 a barrel, said SEB analyst Ole Hvalbye, which, along with some optimism around the current tariff situation with talks due between the US and China, was providing support.
Inter-bank market rates for dollar on Thursday
BID Rs 281.51
OFFER Rs 281.71
Open-market movement
In the open market, the PKR lost 9 paise for buying and 11 paise for selling against USD, closing at 281.50 and 283.24, respectively.
Against Euro, the PKR gained 1.01 rupee for buying and 75 paise for selling, closing at 317.53 and 321.47, respectively.
Against UAE Dirham, the PKR lost 20 paise for buying and 10 paise for selling, closing at 76.65 and 77.39, respectively.
Against Saudi Riyal, the PKR lost 9 paise for buying and 7 paise for selling, closing at 74.82 and 75.58, respectively.
Open-market rates for dollar on Thursday
BID Rs 281.50
OFFER Rs 283.24
