Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Thursday.
At close, the local currency settled at 279.65, a gain of Re0.01 against the greenback.
On Wednesday, the local currency closed at 279.66, according to the State Bank of Pakistan (SBP).
SBP Governor Jameel Ahmad said the country’s economy was projected to grow between 3.75% and 4.75% in FY26, signalling a gradual recovery amid improving macroeconomic indicators.
During a meeting with the Agricultural Credit Advisory Committee (ACAC), the central bank chief reiterated that Pakistan had regained macroeconomic stability and is moving towards sustainable growth.
Internationally, against the US dollar, the yen traded as strong as 152.55 on Wednesday, before steadying slightly below that at 153.05 per dollar on Thursday. The rebound is nascent - since the yen has been declining for years - but it has been big enough to turn heads in the market.
A stronger-than-expected US jobs report overnight briefly lifted the greenback. But traders are taking recent signs of US economic resilience as cues for a broader brightening in global growth and are laying bets on Japan as a likely winner.
The yen was up more than 2.6% since Prime Minister Sanae Takaichi’s Liberal Democratic Party swept to a landslide victory at Sunday’s election and a mood shift seems to be afoot as markets set aside fears about spending to focus on growth.
Oil prices, a key indicator of currency parity, slipped on Thursday as investors weighed the International Energy Agency’s lowering of its global oil demand forecast for 2026 against potential escalation of US-Iran tensions.
Brent crude oil futures were down 19 cents, or 0.27%, at $69.21 a barrel by 1232 GMT. US West Texas Intermediate crude fell 8 cents, or 0.12%, to $64.55.
Global oil demand would rise more slowly than previously expected this year, the IEA said on Thursday while projecting a sizeable surplus despite outages that cut supply in January.
Inter-bank market rates for dollar on Thursday
BID Rs 279.65
OFFER Rs 279.85
Open-market movement
In the open market, the PKR remained unchanged for buying and lost 1 paisa for selling against USD, closing at 280.18 and 280.72, respectively.
Against Euro, the PKR gained 1.16 rupee for buying and 1.06 rupee for selling, closing at 332.27 and 335.38, respectively.
Against UAE Dirham, the PKR gained 3 paise for buying and 2 paise for selling, closing at 76.55 and 77.27, respectively.
Against Saudi Riyal, the PKR gained 1 paisa for buying and lost 1 paisa for selling, closing at 74.80 and 75.38, respectively.
Open-market rates for dollar on Thursday
BID Rs 280.18
OFFER Rs 280.72
Comments