Rupee posts marginal decline against US dollar

Rupee's Performance Against US Dollar Since 04 March 2025

The Pakistani rupee posted marginal decline against the US dollar, depreciating 0.05% during trading in the inter-bank market on Monday.

At close, the local currency settled at 280.87 against greenback, a loss of Re0.15 as compared to the previous day close.

On Friday, the rupee had closed the day at 280.72.

The dollar tumbled on Monday as investor confidence in the U.S. economy took another hit over President Donald Trump’s plans to shake up the Federal Reserve, which would throw into question the independence of the central bank.

White House economic adviser Kevin Hassett said on Friday that the president and his team were continuing to study whether they could fire Fed Chair Jerome Powell, just a day after Trump said Powell’s termination “cannot come fast enough” as he called for the Fed to cut interest rates.

The dollar sank to a three-year low against the euro , hit a seven-month trough on the yen and slid 0.9% against the Swiss franc early in the Asian session on Monday, as an ongoing crisis of confidence in the greenback continued to play out.

Trading was thinned with markets in Australia and Hong Kong closed for Easter Monday. Most markets globally were closed on Friday for a holiday.

Oil prices, a key indicator of currency parity, fell 1.5% on Monday as investors once again focused on concerns US tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth.

Brent crude futures slipped 97 cents, or 1.4%, to $66.99 a barrel at 0640 GMT after closing up 3.2% on Thursday.

US West Texas Intermediate crude was at $63.72 a barrel, down 96 cents, or 1.5%, after settling up 3.54% in the previous session.

Thursday was the last settlement day last week because of the Good Friday holiday.

Inter-bank market rates for dollar on Monday

BID                            Rs 280.86

OFFER                      Rs 281.06

Open-market movement

In the open market, the PKR lost 20 paise for buying and 3 paise for selling against USD, closing at 280.60 and 282.33, respectively.

Against Euro, the PKR lost 4.87 rupees for buying and 4.96 rupees for selling, closing at 322.65 and 325.94, respectively.

Against UAE Dirham, the PKR lost 11 paise for buying and 9 paise for selling, closing at 76.41 and 77.12, respectively.

Against Saudi Riyal, the PKR lost 10 paise for buying and 13 paise for selling, closing at 74.66 and 75.37, respectively.

Open-market rates for dollar on Monday

BID                            Rs 280.60

OFFER                      Rs 282.33