Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal decline against the US dollar, depreciating 0.03% during trading in the interbank market on Thursday.
At close, the local currency settled at 283.64, a loss of Re0.09 against the greenback.
On Wednesday, the local unit closed at 283.55.
Internationally, the US dollar firmed on Thursday, buoyed by safe-haven demand due to the looming threat of a broader conflict in the Middle East and possible US involvement, while investors weighed Federal Reserve Chair Jerome Powell’s cautionary tone on inflation.
After a muted start in Asia hours, the US dollar advanced across the board, weighing heavily on risk sensitive currencies after a report said US officials are preparing for the possibility of a strike on Iran in the coming days.
The Australian dollar fell as much as 0.5% but was last down 0.3% at $0.6489, while the New Zealand dollar slipped 0.5% to $0.5998. Emerging market currencies also struggled, with the South Korean won 1% weaker.
Rapidly rising geopolitical tensions have led to the dollar swiftly reclaiming its safe-haven status, making inroads against the yen, euro and the Swiss franc.
Iran and Israel traded further air attacks on Thursday, with the conflict entering its seventh day. Concerns over potential U.S. involvement have also grown, as President Donald Trump kept the world guessing about whether the United States will join Israel’s bombardment of Iranian nuclear sites.
The conflict has heightened fears of broader regional instability, compounded by the spillover effects of the Gaza war.
Oil prices, a key indicator of currency parity, rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and US. President Donald Trump’s stance on the conflict kept investors on edge.
Brent crude futures rose $1.60, or 2.1%, to $78.29 a barrel by 1030 ET. U.S. West Texas Intermediate crude for Julywas up $1.64, or 2.1%, at $78.34. Brent had surged to its highest in nearly five months at $78.50 on June 13, when Israel began its attacks.
Inter-bank market rates for dollar on Thursday
BID Rs 283.64
OFFER Rs 283.84
Open-market movement
In the open market, the PKR lost 27 paise for buying and 11 paise for
selling against USD, closing at 284.13 and 285.69, respectively.
Against Euro, the PKR gained 64 paise for buying and 88 paise for
selling, closing at 324.57 and 327.45, respectively.
Against UAE Dirham, the PKR lost 15 paise for buying and 10 paise for selling, closing at 77.28 and 78.02, respectively.
Against Saudi Riyal, the PKR lost 15 paise for buying and 9 paise for selling, closing at 75.55 and 76.25, respectively.
Open-market rates for dollar on Thursday
BID Rs 284.13
OFFER Rs 285.69
