Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered slight improvement against the US dollar, appreciating 0.04% in the inter-bank market on Thursday.
At close, the currency closed at 282.56, a gain of Re0.11.
On Wednesday, the currency settled at 282.67.
Globally, the US dollar remained lower against major peers on Thursday, as expectations of Federal Reserve rate cuts grew and concerns swirled about partisanship creeping into key US institutions.
Initial jobless claims in the United States are under scrutiny after last week’s disappointing nonfarm payrolls, which triggered a slide in the greenback. Meanwhile, the euro found support ahead of anticipated talks next week to end the war between Russia and Ukraine.
Last week, President Donald Trump fired the official responsible for the labour data he did not like, and focus is centring on his nomination to fill a coming vacancy on the Fed’s Board of Governors and candidates for the next chair of the central bank.
The dollar index, which measures the greenback against a basket of major peers, edged up 0.1% to 98.259 in early trade in Asia, after a 0.6% slide in the previous session.
The US currency was little changed at 147.36 yen.
The euro stood at $1.1654, down almost 0.1% after a 0.7% jump previously.
Oil prices, a key indicator of currency parity, steadied on Thursday, paring early gains after the Kremlin announced that Russian President Vladimir Putin would meet U.S. President Donald Trump in the coming days, raising expectations for a diplomatic end to the war in Ukraine.
Brent crude futures were up 24 cents, or 0.4%, at $67.13 a barrel at 1305 GMT. U.S. West Texas Intermediate crude was up 21 cents, or 0.3%, to $64.56.
Both benchmarks slid about 1% on Wednesday, touching their lowest in eight weeks, after comments from Trump on progress in talks with Moscow.
Inter-bank market rates for dollar on Thursday
BID Rs 282.55
OFFER Rs 282.75
Open-market movement
In the open market, the PKR gained 26 paise for buying and 15 paise for selling against USD, closing at 283.96 and 285.00, respectively.
Against Euro, the PKR lost 2.14 rupees for buying and 2.41 rupees for selling, closing at 330.67 and 332.86, respectively.
Against UAE Dirham, the PKR gained 7 paise for buying and 5 paise for selling, closing at 77.29 and 77.60, respectively.
Against Saudi Riyal, the PKR gained 11 paise for buying and 5 paise for selling, closing at 75.54 and 75.90, respectively.
Open-market rates for dollar on Thursday
BID Rs 283.96
OFFER Rs 285.00
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