Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee weakened against the US dollar, depreciating 0.04% in the interbank market on Friday.
At close, the currency settled at 283.97, a loss of Re0.11.
On Thursday, the currency settled at 283.86.
Internationally, the US dollar held gains on Friday after President Donald Trump got his signature tax cut bill across the final hurdle and pressure mounted on countries to secure trade deals with the United States.
The greenback rallied from multi-year lows against the euro and British pound hit earlier in the week after stronger than expected US jobs data pushed out the timing for potential rate cuts by the Federal Reserve.
New Zealand’s kiwi dollar, a common proxy for risk appetite, rose 0.2% to $0.608 after U.S. stocks climbed to new record levels.
The Republican-controlled House of Representatives narrowly passed Trump’s “One, Big, Beautiful Bill” of spending and tax cuts that is estimated to add $3.4 trillion to the nation’s $36.2 trillion debt.
With the US closed for Independence Day, attention turns to Trump’s July 9 deadline when sweeping tariffs take effect on countries like Japan that have not yet secured trade agreements.
The US dollar index, which tracks the greenback against major peers, had its worst first half since 1973 as Trump’s chaotic roll-out of sweeping tariffs stoked concerns about the U.S. economy and the safety of Treasuries.
Oil prices, a key indicator of currency parity, fell more than 1% on Friday, pressured by expectations that OPEC+ producers will decide this weekend to raise output and an Iranian reaffirmation of its commitment to nuclear non-proliferation.
Brent crude futures were down 70 cents, or 1.02%, at $68.10 a barrel by 10:06 ET (1406 GMT) while U.S. West Texas Intermediate crude fell 72 cents, or 1.07%, to $66.28. Trade was thin due to the U.S. Independence Day holiday.
Both contracts were on track for a small weekly gain, with Brent trading about 0.5% higher than last Friday’s close and WTI around 1.2% higher.
Inter-bank market rates for dollar on Friday
BID Rs 283.97
OFFER Rs 284.16
Open-market movement
In the open market, the PKR lost 35 paise for buying and remained unchanged for selling against USD, closing at 285.41 and 286.40, respectively.
Against Euro, the PKR gained 38 paise for buying and 16 paise for selling, closing at 335.69 and 338.20, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 77.68 and 78.10, respectively.
Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 75.98 and 76.40, respectively.
Open-market rates for dollar on Friday
BID Rs 285.41
OFFER Rs 286.40
