Rupee's Performance Against US Dollar Since 04 March 2025
The Pakistani rupee registered marginal improvement against the US dollar in the inter-bank market on Tuesday.
At close, the local currency settled at 280.30, a gain of Re0.01 against the greenback.
On Monday, the local unit closed at 280.31.
Internationally, the US dollar sagged to near a two-month low at the start of the Asian trading session on Tuesday as markets awaited the release of a slew of economic data, including the delayed November US jobs report.
The dollar index, which measures the currency’s strength against a basket of six key rivals, was down 0.2% at 98.261, approaching the lowest levels since October 17.
The Bureau of Labour Statistics will release its long-awaited combined employment reports for October and November later, following delays to data collection during the longest US government shutdown in history. Meanwhile, a raft of preliminary manufacturing indicators is also due for release.
Fed funds futures are pricing an implied 75.6% probability of a hold in rates at the US central bank’s next meeting on 28 January, unchanged from a day earlier, according to the CME Group’s FedWatch tool.
Against the yen, the US dollar eased 0.1% to 155.07 yen, as traders braced for the BOJ’s decision on Friday.
Oil prices, a key indicator of currency parity, fell below $60 a barrel on Tuesday, the lowest since May, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased.
Brent crude futures fell $1.03, or around 1.7%, to $59.53 a barrel at 1340 GMT, while US West Texas Intermediate crude was trading at $55.76, down $1.06, or 1.9%.
Inter-bank market rates for dollar on Tuesday
BID Rs 280.30
OFFER Rs 280.50
Open-market movement
In the open market, the PKR gained 9 paise for buying and remained unchanged for selling against USD, closing at 280.71 and 281.35, respectively.
Against Euro, the PKR lost 54 paise for buying and 48 paise for selling, closing at 329.34 and 332.17, respectively.
Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 76.56 and 77.33, respectively.
Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 74.78 and 75.39, respectively.
Open-market rates for dollar on Tuesday
BID Rs 280.71
OFFER Rs 281.35
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