Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee remained largely stable against the US dollar, depreciating 0.01% in the inter-bank market on Tuesday.
At close, the currency settled at 284.97, a loss of Re0.02.
On Monday, the currency settled at 284.95.
Globally, the US dollar traded in a tight range on Tuesday after a brief fall at the start of the week, as investors watched out for any progress on trade talks ahead of an August 1 deadline for countries to strike deals with the US or face steep tariffs.
The yen mostly held to gains from the previous session following results from a weekend upper house election in Japan that proved no worse than what had already been priced in, as focus now turns to how quickly Tokyo can strike a trade deal with Washington and Prime Minister Shigeru Ishiba’s future at the helm.
The Japanese currency was last a touch weaker at 147.65 in early Asia trade, after rising 1% on Monday in the wake of the election outcome.
With just slightly over a week to go before an August 1 deadline on tariffs, US Treasury Secretary Scott Bessent said on Monday that the administration is more concerned with the quality of trade agreements than their timing.
Asked whether the deadline could be extended for countries engaged in productive talks with Washington, Bessent said President Donald Trump would make that decision.
Against a basket of currencies, the US dollar rose slightly to 97.94, after having fallen 0.6% on Monday.
Oil prices, a key indicator of currency parity, declined on Tuesday as concerns about the brewing trade war between major crude consumers the US and the European Union will curb fuel demand growth by lowering economic activity weighed on investor sentiment.
Brent crude futures fell 52 cents, or 0.75%, to $68.69 a barrel by 0325 GMT. US West Texas Intermediate crude was at $66.69 a barrel, down 51 cents, or 0.76%. Both benchmarks settled slightly lower on Monday.
The August WTI contract expires on Tuesday and the more active September contract was down 54 cents, or 0.82%, to $65.41 a barrel.
This is an intra-day update
