Rupee sees slight improvement against US dollar

Rupee's Performance Against US Dollar Since 04 March 2025

The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Monday.

At close, the local currency settled at 281.01, up by Re0.01 against the US dollar, according to the State Bank of Pakistan (SBP).

During the previous week, Pakistan rupee gained Re0.08 or 0.03% against the US dollar in the inter-bank market. The local unit closed at 281.02, against 281.10 it had closed the week earlier against the greenback, according to the SBP.

The Monetary Policy Committee (MPC) of the SBP, in line with market expectations, decided on Monday to keep the policy rate unchanged at 11% on Monday. The committee noted that headline inflation rose significantly to 5.6% in September, whereas core inflation remained unchanged at 7.3%.

Internationally, the US dollar rose to a more than two-week high against the yen on Monday at the start of a packed week of global trade negotiations and central bank meetings.

US President Donald Trump visits Japan from Monday and will hold a summit the following day with the nation’s new prime minister, Sanae Takaichi.

Soon after, Trump will meet Chinese President Xi Jinping on Thursday, where the pair will decide on the framework of a trade deal that their respective officials hashed out on Sunday.

And while Trump is travelling in Asia this week, the US Federal Reserve is widely expected to cut its policy interest rate after moderate inflation figures on Friday.

The dollar strengthened 0.2% to 153.12 against the yen , the highest since Oct. 10.

The dollar index, which measures the greenback against select peers, was little changed at 98.94.

Oil prices, a key indicator of currency parity, held steady on Monday as hopes of a trade deal framework between the U.S. and China and renewed U.S. sanctions on Russia offset broader concerns about weak oil demand.

Brent crude futures were up about 14 cents, or nearly 0.2%, to $66.08 a barrel at 11:30 a.m. ET (1538 GMT). U.S. West Texas Intermediate crude futures were up 22 cents or 0.4%, to $61.74. Both contracts fell around 1% in early trade.

Inter-bank market rates for dollar on Monday

BID                            Rs 281.01

OFFER                      Rs 281.20

Open-market movement

In the open market, the PKR lost 4 paise for buying and remained unchanged for selling against USD, closing at 281.61 and 282.05, respectively.

Against Euro, the PKR lost 77 paise for buying and 68 paise for selling, closing at 327.24 and 330.75, respectively.

Against UAE Dirham, the PKR lost 2 paise for buying and remained unchanged for selling, closing at 76.82 and 77.58, respectively.

Against Saudi Riyal, the PKR lost 1 paisa for buying and 2 paise for selling, closing at 75.08 and 75.68, respectively.

Open-market rates for dollar on Monday

BID                            Rs 281.61

OFFER                      Rs 282.05