Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee saw marginal decline against the US dollar, depreciating 0.03% in the inter-bank market on Wednesday.
At close, the local currency settles at 282.22, a loss of Re0.10 against the greenback.
On Tuesday, the Pakistani rupee closed the day at 282.12.
Internationally, the US dollar drifted lower on Wednesday as the market looked ahead to US employment data for immediate trading cues, while waiting on developments in President Donald Trump’s tariff negotiations with key trading partners including China.
The Trump administration has given a Wednesday deadline for countries to submit their best offers on trade, the same day a doubling of duties to 50% on imported steel and aluminium comes into effect.
Trump is also tipped by the White House to have a call this week with Chinese President Xi Jinping after the two sides accused each other of violating the terms of an agreement last month to roll back some tariffs.
In the meantime, macroeconomic indicators have returned as a driver of the US currency this week, even if trade frictions remain centre stage.
The US dollar slumped 0.8% against major peers on Monday following a contraction in manufacturing, only to rebound by almost the same amount overnight after a surprise increase in US job openings.
Early on Wednesday, the dollar was down 0.09% at 143.82 yen and the euro was up 0.13% at $1.1385.
The dollar index, which measures the currency against those two peers and four other counterparts, was flat at 99.159.
Oil prices, a key indicator of currency parity, held steady on Wednesday as concerns around the OPEC+ groups next output increase were offset by Canadian supply pressures due to wildfires there, while global trade tensions continue to linger.
Brent crude futures inched 18 cents lower, or down around 0.3%, at $65.45 a barrel by 0905 GMT, while US West Texas Intermediate crude was 19 cents lower, also down 0.3%, at $63.22 a barrel.
