Rupee’s Performance Against US Dollar Since 04 March 2025
The Pakistani rupee declined slightly against the US dollar, depreciating 0.03% in the inter-bank market on Monday.
At close, the currency settled at 284.95, a loss of Re0.08.
During the previous week, rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.41 or 0.15%. The local unit closed at 284.87, against 284.46 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the Japanese yen firmed on Monday after Japan’s ruling coalition lost its majority in the upper house as investors braced for a period of policy paralysis and market disquiet in the world’s fourth-largest economy ahead of a deadline on tariff negotiations with the US.
The Japanese markets are closed for the day leaving the yen as an indicator of investor angst, with early trading suggesting the election results were mostly priced in by markets.
Investor focus has been firmly on Trump’s global tariff salvos, with a Financial Times report last week indicating the US president was pushing for steep new tariffs on European Union products.
US Commerce Secretary Howard Lutnick said on Sunday he was confident the US can secure a trade deal with the European Union, but said August 1 was a hard deadline for tariffs to kick in.
The euro was 0.12% lower at $1.16165, while sterling last fetched $1.13417.
The dollar index, which measures the US currency against six others, was at 98.352.
Oil prices, a key indicator of currency parity, dipped slightly on Monday, with the latest European sanctions on Russian oil expected to have minimal impact on supplies while U.S. tariffs ensure demand concerns remain.
Brent crude futures dropped 20 cents, or 0.3%, to $69.08 a barrel by 1100 GMT after settling 0.35% down on Friday. U.S. West Texas Intermediate crude eased by 6 cents, or 0.1%, to $67.28 after a 0.3% decline in the previous session.
Inter-bank market rates for dollar on Monday
BID Rs 284.95
OFFER Rs 285.15
Open-market movement
In the open market, the PKR gained 10 paise for buying and remained unchanged for selling against USD, closing at 287.27 and 288.60, respectively.
Against Euro, the PKR lost 9 paise for buying and gained 41 paise for selling, closing at 335.01 and 337.86, respectively.
Against UAE Dirham, the PKR gained 14 paise for buying and 15 paise for selling, closing at 78.38 and 79.07, respectively.
Against Saudi Riyal, the PKR gained 14 paise for buying and 5 paise for selling, closing at 76.67 and 77.30, respectively.
Open-market rates for dollar on Monday
BID Rs 287.27
OFFER Rs 288.60
