Rupee’s Performance Against US Dollar Since 15 Jan 2025
The Pakistani rupee recorded marginal improvement against the US dollar, appreciating 0.02% in the inter-bank market on Thursday.
At close, the rupee settled at 279.82, a gain of Re0.05 against the greenback.
On Wednesday, the rupee had closed at 279.87.
Internationally, the euro extended four-month highs to the US dollar on Thursday, following a surge in European bond yields on Germany’s proposed 500 billion euro ($539.85 billion) infrastructure fund and overhaul in borrowing limits.
The greenback wallowed near a four-month trough against a basket of major peers as US President Donald Trump’s administration gave a one-month reprieve on auto import levies to Canada and Mexico, again showing how rapidly the trade landscape can shift.
The risk-sensitive sterling and Australian dollar benefitted, with the British currency touching a four-month peak.
The Aussie reached a one-week high, buoyed additionally by solid economic growth at home and pledges of more stimulus from top trading partner China. The yuan traded offshore stood close to Wednesday’s nine-day high.
The US dollar index was little changed at 104.31, after easing to 104.25 overnight for the first time since November 8.
The US dollar gained 0.2% against the safe-haven yen, however, to be last at 149.17 yen.
Oil prices, a key indicator of currency parity, rose on Thursday after heavy sell-offs drove the market to a multi-year low, however tariff uncertainties and a rising supply outlook capped gains.
Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel by 0716 GMT, while US West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel.
Brent plunged 6.5% in the previous four sessions, dropping to its lowest since December 2021 on Wednesday, while WTI fell 5.8% over the same period to its lowest since May 2023.
