Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee saw slight improvement against the US dollar, appreciating 0.03% in the inter-bank market on Friday.
At close, the local currency settled at 281.97, a gain of Re0.09 against the greenback.
On Thursday, the Pakistani rupee closed the day at 282.06.
Globally, the US dollar was soft on Friday, poised to make its first weekly drop in five weeks against the euro and the yen as worries over the United States’ worsening fiscal health sent investors scurrying for safe havens.
After Moody’s last week downgraded its US debt ratings, investor attention this week has honed in on the country’s $36 trillion debt pile and US President Donald Trump’s tax bill that could add trillions of dollars more to it.
Dubbed by Trump as a “big, beautiful bill”, it narrowly passed the Republican-controlled US House of Representatives and now heads to the Senate for what is likely to be weeks of debate.
The dollar index, which compares the US currency against six other units, including the yen and euro, is set for a 1.1% decline this week, though it was little changed at 99.829 in early Asia trade.
That’s despite a steep selloff in US Treasuries at the start of the week.
The 30-year bond yield stayed above 5% in Asian hours on Friday, hovering near 19-month highs. It is close to October 2023’s high of 5.179%, a break past which would take it to its highest since mid-2007.
Oil prices, a key indicator of currency parity, dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible OPEC+ output hike in July.
Brent futures fell 31 cents, or 0.5%, to $64.13 a barrel by 0412 GMT.
US West Texas Intermediate crude futures lost 33 cents, or 0.5%, to $60.87.
For the week, Brent has fallen 1.9%, and WTI has dropped 2.5%, following two weeks of gains.
Inter-bank market rates for dollar on Friday
BID Rs 281.97
OFFER Rs 282.17
Open-market movement
In the open market, the PKR gained 19 paise for buying and remained unchanged for selling against USD, closing at 282.90 and 284.15, respectively.
Against Euro, the PKR lost 45 paise for buying and 9 paise for selling, closing at 320.52 and 322.86, respectively.
Against UAE Dirham, the PKR gained 1 paisa for buying and remained unchanged for selling, closing at 77.14 and 77.55, respectively.
Against Saudi Riyal, the PKR lost 2 paise for buying and gained 2 paise for selling, closing at 75.48 and 77.85, respectively.
Open-market rates for dollar on Friday
BID Rs 282.90
OFFER Rs 284.15
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