Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee strengthened against the US dollar, appreciating 0.01% in the inter-bank market on Monday.
At close, the currency settled at 281.35, a gain of Re0.02 against the greenback.
During the previous week, the Pakistani rupee eked out a marginal gain against the US dollar, appreciating by Re0.09 or 0.03% in the inter-bank market. The local unit closed at 281.37, against 281.46 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).
Internationally, the US dollar was on the defensive on Monday ahead of a slew of US economic releases that could provide further clarity on the Federal Reserve’s rate path, while the growing risk of a government shutdown there also came into sharp focus.
Currency moves were largely subdued in the early Asian session, though the dollar gave up some gains after ending last week stronger on the back of reduced Fed rate-cut bets.
Against the yen, the US dollar was down 0.2% to 149.24, after having risen over 1% against the Japanese currency last week.
The euro rose 0.15% to $1.1717, while sterling edged 0.11% higher to $1.3418.
At the top of investors’ minds was a looming US government shutdown should Congress fail to pass a funding bill before the fiscal year ends on Tuesday.
Without passage of funding legislation, parts of the government would close on Wednesday, the first day of the US government’s 2026 fiscal year.
That would have implications for the release of Friday’s closely watched nonfarm payrolls report.
Oil prices, a key indicator of currency parity, fell by nearly 2% on Monday as OPEC+ plans for another increase to oil output in November and the resumption of oil exports by Iraq’s Kurdistan region via Turkey raised the global supply outlook.
Brent crude futures dropped $1.26, or 1.8%, to $68.87 a barrel by 1309 GMT after settling at their highest since July 31 on Friday. US West Texas Intermediate crude was down $1.36, or 2%, at $64.36.
Inter-bank market rates for dollar on Monday
BID Rs 281.35
OFFER Rs 281.55
Open-market movement
In the open market, the PKR gained 7 paise for buying and remained unchanged for selling against USD, closing at 281.87 and 282.40, respectively.
Against Euro, the PKR lost 1.04 rupee for buying and 78 paise for selling, closing at 330.45 and 333.59, respectively.
Against UAE Dirham, the PKR gained 3 paise for both buying and selling, closing at 76.89 and 77.67, respectively.
Against Saudi Riyal, the PKR lost 2.00 paisa for buying and gained 1 paisa for selling, closing at 75.11 and 75.76, respectively.
Open-market rates for dollar on Monday
BID Rs 281.87
OFFER Rs 282.40
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