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, were little changed on Friday as a solid job market bolstered the case for the US Federal Reserve keeping interest rates on hold, with investors also awaiting clarity on President Donald Trump’s plans for tariffs on various countries.
Brent crude futures rose 1 cent, or 0.01%, to $68.81 a barrel by 0036 GMT, while U.S. West Texas Intermediate crude firmed 3 cents, or 0.04%, to $67.03.
Trade was thinned by the US Independence Day holiday.
