Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered gains against the US dollar, appreciating 0.04% in the inter-bank market on Thursday.
At close, the local currency settled at 282.07, a gain of Re0.10 against the greenback.
The interbank market was closed on Wednesday, on account of the Yaum-e-Takbeer holiday.
On Tuesday, the Pakistani rupee closed the day at 282.17.
Internationally, the US dollar rallied sharply on Thursday after a court blocked President Donald Trump from imposing his so-called Liberation Day import tariffs, with the currency surging against the euro, yen and Swiss franc in particular.
The Manhattan-based Court of International Trade said the US Constitution gives Congress exclusive authority to regulate commerce with other countries that is not overridden by the president’s emergency powers to safeguard the US economy.
In response, the Trump administration filed an appeal.
The move sparked a risk-on rally across markets, sending Wall Street futures up while the dollar jumped in a knee-jerk reaction to a potential reprieve for global trade.
The greenback rose 0.6% against the yen to 145.72 and 0.65% against the franc to 0.8326. The euro slid 0.5% to $1.1232. Sterling fell 0.2% to $1.3432.
The dollar index, which measures the US currency against six major peers, climbed back above 100 for the first time in a week and was last at 100.40.
Trump’s tariffs have undermined investor confidence in US assets and prompted a rush of money out of the world’s largest economy.
Oil prices, a key indicator of currency parity, rose on Thursday after a US court blocked President Donald Trump’s tariffs from taking effect, while the market was watching out for potential new US sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July.
Brent crude futures climbed 81 cents, or 1.25%, to $65.71 a barrel. U.S. West Texas Intermediate crude advanced by 83 cents, or 1.34%, to $62.62 a barrel at 0102 GMT.
