Rupee declines against US dollar

Rupee's Performance Against US Dollar Since 04 March 2025

Pakistani rupee declined further against the US dollar, depreciating 0.03% in the inter-bank market on Thursday.

At close, the currency settled at 284.56, a loss of Re0.09.

On Wednesday, the currency settled at 284.47.

Internationally, the US dollar slipped further from a two-week high versus major peers on Thursday, as President Donald Trump’s latest tariff salvos failed to shake markets, except in Brazil where a threatened 50% levy sent the real sliding as much as 2.8% overnight.

The US dollar felt additional weight from a sharp decline in US Treasury yields following a strong auction of 10-year notes on Wednesday, tempering worries about the “Sell America” narrative that had seen Treasuries, the dollar and Wall Street stocks sold off in tandem earlier this year.

Overall, investors were hungry for riskier assets with the most damaging tariff scenarios looking increasingly unlikely, helping Nvidia become the first stock ever with a $4 trillion valuation, and lifting cryptocurrency bitcoin to an all-time peak just shy of $112,000.

The US dollar index, which measures the currency against six major peers, eased 0.1% to 97.286, extending a 0.2% decline from Wednesday, the same day that it pushed to the highest since June 25 at 97.837 before losing momentum.

Oil prices, a key indicator of currency parity, edged lower on Thursday as investors weighed the potential impact of U.S. President Donald Trump’s tariffs on global economic growth.

Brent crude futures were down 17 cents, or 0.24%, at $70.02 a barrel by 1100 GMT. U.S. West Texas Intermediate crude fell 24 cents, or 0.35%, to $68.14 a barrel.

On Wednesday, Trump threatened Brazil, Latin America’s largest economy, with a punitive 50% tariff on exports to the U.S., after a public spat with his Brazilian counterpart Luiz Inacio Lula da Silva.

Inter-bank market rates for dollar on Thursday

BID                            Rs 284.56

OFFER                      Rs 284.76

Open-market movement

In the open market, the PKR lost 30 paise for buying and 50 paise for selling against USD, closing at 286.30 and 287.50, respectively.

Against Euro, the PKR lost 1.25 rupee for buying and 1.44 rupee for selling, closing at 336.25 and 338.95, respectively.

Against UAE Dirham, the PKR lost 26 paise for buying and 52 paise for selling, closing at 78.12 and 78.77, respectively.

Against Saudi Riyal, the PKR lost 21 paise for buying and 45 paise for selling, closing at 76.42 and 77.00, respectively.

Open-market rates for dollar on Thursday

BID                            Rs 286.30

OFFER                      Rs 287.50