Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal decline against the US dollar, depreciating 0.06% during trading in the interbank market on Monday.
At close, the local currency settled at 283.87, a loss of Re0.17 against the greenback.
During the previous week, the rupee weakened further as it depreciated Re0.74 or 0.26% against the US dollar.
The local unit closed at 283.70, against 282.96 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar firmed slightly on Monday as anxious investors sought safety, although the moves were muted so far, suggesting markets were waiting for Iran’s response to US attacks on its nuclear sites that have exacerbated tension in the Middle East.
The major moves were in the oil market, with oil prices hitting a five-month high, while global stocks slipped in the first market reaction to the US attacks over the weekend.
In currency markets, the dollar advanced broadly against most rivals. It was up 0.25% against the Japanese yen at 146.415 after touching a one-month high earlier in the session.
The euro was 0.33% lower at $1.1484, while the Australian dollar, often seen as risk proxy, weakened 0.2% to $0.6437, hovering near its lowest level in over three weeks.
That left the dollar index, which measures the US currency against six other units, 0.12% higher at 99.037.
Oil prices, a key indicator of currency parity, jumped on Monday to their highest since January as the United States’ weekend move to join Israel in attacking Iran’s nuclear facilities stoked supply concerns.
Brent crude futures were up just 8 cents to $77.09 a barrel as of 0904 GMT. US West Texas Intermediate crude rose by 3 cents to $73.87.
Price volatility continued in Monday’s session. Both contracts touched fresh five-month highs earlier in the session of $81.40 and $78.40 respectively, before giving up their gains and even turning negative during the European morning session.
Brent has risen around 11% since the conflict began on June 13, while WTI has gained approximately 9%. Prices flattened out on Monday as investors weighed the geopolitical risk premium in oil markets without any impact on supply yet from the Middle Eastern crisis.
