Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee inched up against the US dollar, appreciating 0.05% in the inter-bank market on Monday.
At close, the local currency settled at 281.57, a gain of Re0.14 against the greenback.
During the previous week, the Pakistani rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.65 or 0.23%.
The local unit closed at Rs281.71, against Rs281.06 it had closed at during the week earlier, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar climbed in early Asian trade on Monday after weekend talks between the United States and China eased concerns of a trade war between the world’s two biggest economies, while global hot spots appeared to cool.
The greenback, treasuries and equities have taken a beating since sweeping tariffs announced by U.S. President Donald Trump last month shook confidence in American assets. After talks in Geneva, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer on Sunday said a deal had been reached with China to cut the US trade deficit.
Further details are expected on Monday. Eyes will also be on US earnings and data this week, including consumer price index (CPI) figures on Tuesday, for indications of how the trade spat has impacted the economy and expectations for rate hikes by the U.S. Federal Reserve.
The US currency climbed 0.6% to 146.19 yen.
The dollar index added 0.1%, hovering near a one-month high.
Oil prices, a key indicator of currency parity, rose more than $2 in Asian trading on Monday after the US and China said they would ease some of their tariff measures, lifting market sentiment that the world’s two largest crude users may be moving toward resolving their trade dispute.
Brent crude futures climbed $2.11, or 3.3%, to $64.14 a barrel by 0714 GMT.
US West Texas Intermediate (WTI) crude futures were trading at $63.14 a barrel, up $2.12, or 3.47%, from Friday’s close.
Inter-bank market rates for dollar on Monday
BID Rs 281.56
OFFER Rs 281.76
Open-market movement
In the open market, the PKR lost 27 paise for buying and 14 paise for selling against USD, closing at 282.05 and 283.50, respectively.
Against Euro, the PKR gained 1.40 rupee for buying and 90 paise for selling, closing at 314.98 and 318.98, respectively.
Against UAE Dirham, the PKR lost 5 paise for buying and 2 paise for selling, closing at 76.78 and 77.45, respectively.
Against Saudi Riyal, the PKR lost 7 paise for buying and 4 paise for selling, closing at 75.02 and 75.70, respectively.
Open-market rates for dollar on Monday
BID Rs 282.05
OFFER Rs 283.50
